Foreign exchange solutions and cross-border payments company Currencycloud has announced that it has been granted an Australian Financial Services (AFS) licence by the Australian Securities and Investments Commission (ASIC). The granting of the licence means that Currencycloud can now offer their full suite of services to Australian businesses.
The granting of the AFS licence follows the appointment of Nick Briscoe as Country Manager, Australia, in January of this year and gives Currencycloud the springboard to build the team and ramp-up customer support in-country.
Currencycloud has some fast-growing clients in Australia but to date, the services they have been able to use have been limited to international payments only. Now those clients will be able to provide customers with collections, management services and Currencycloud’s multi-currency ewallet: Currencycloud Spark, which allows clients’ customers to pay, collect and hold more than 30 currencies in one account.
Alex Prater, CEO for FX Corp, a Currencycloud client in Australia, commented:
“With the expansion of Currencycloud’s offering, FX Corp has been able to augment the range of currency capabilities it provides to clients, particularly in minor and exotic currencies which have traditionally been problematic to deal in. Add to this a user-friendly interface and the ability to easily track cross-border payments, and Currencycloud offers a compelling value proposition which has assisted FX Corp to offer a more complete range of services to its growing client base.”
Nick Briscoe, Australian Country Manager at Currencycloud, said:
“The fintech landscape here is incredibly vibrant and highly sophisticated in its approach to both clients, and service providers. Gaining our Australian licence puts us in a great position to support our existing Australian clients and their ambitions, as well as work with other businesses across the country.”
Currencycloud said it is now actively recruiting for key hires across sales and operations.
Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution. Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, the EU and Australia, and were acquired by Visa in December 2021.