Visa has completed the acquisition of Currencycloud as the banking giant continues its global offering.
The deal builds on a strong collaboration between the two, with them having signed a strategic partnership in 2019.
Mike Laven, CEO of Currencycloud, stated on the partnership: “As we continue to execute on the strategy that got us this far, with the additional strength of Visa’s global network behind us, we expect to be able to move further, faster – expanding our offering, extending our global footprint and identifying and supporting new audiences.”
Currencycloud places a key focus on boosting the offering for fintechs, enabling them and banks to benefit from foreign exchange solutions for cross-border payments.
Currencycloud’s cloud-based platform boosts almost 500 banking and technology clients with reach in over 180 countries, this year expanding across Spain, France, Germany and opening a new office in Singapore. The platform now processes over $5 billion in cross-border transactions per month.