Currencycloud continues its string of partnerships
The non-traditional online cross border payments space is heating up as Currencycloud announces a slew of partnerships. The UK-based company which was founded in 2012 works with different financial institutions such as banks and fintechs.
Last week, the company expanded its foothold in the US in a partnership with Radius Bank, an online bank based in Massachusetts. Through this, Radius Bank will offer its clients the ability to send money to more than 180 countries. Last month Mambu, which is a Berlin-based online bank, had partnered with Currencycloud for virtual accounts, payments and FX services.
The bank will use Currencycloud’s API to facilitate payment transfers for both its clients and its Banking-as-a-Service partners.
In another separate partnership, Currencycloud has teamed up with UK-based payments service provider, Contis. Under this partnership, clients will be able to convert Sterling (GBP) to more than 30 currencies and send funds to over 50 countries across 5 different continents.
Customers would be able to request a real-time quote on money transfers which would include transaction fee and exchange rates before making the transaction, according to a press release.
Contis is a principal member of Visa, which provides B2B issuing and processing through its own cloud-based technology. The company is also authorised by the UK Financial Conduct Authority to issue eMoney.
Currencycloud in the past three months has partnered with Sokin, TranSwap and Apply Financial for cross border and B2B payments. At the start of the year, the company also raised $80 million which was backed by Visa, BNP Paribas and Siam Commercial Bank.
The company has nearly 500 customers, which includes banks and fintechs, and has processed over $65bn in payments since 2012. It has a transferred payment to more than 180 countries around the globe.