Visa Sells Earthpot’s FX division
Currency Holdings Limited, which is owned by Pollen Street Capital, has bought Earthpot’s FX business unit for an undisclosed amount from Visa Inc. The deal will be expected to close by this year and is subject to regulatory approval.
Earthpot FX, which provides spot and foreign exchange services to businesses and individuals, will be better positioned as a core part of the new owner’s organization (Currency Holdings Limited), Visa said this in filing to the London Stock Exchange.
Visa Inc. bought Earthpot back in June 2019 for $257 million. The company had aimed to use it for peer-to-peer transaction, funds disbursement, bill payments and cross-border payments.