Currencycloud, a cross-border payments solutions provider, has officially opened its Asia-Pacific headquarters in Singapore as it continues its expansion in the region.

The new office, located in Raffles Quay, will serve as a hub to drive the London-based FinTech’s growth in Asia Pacific including South East Asia, Australia, Hong Kong and Japan.

The move comes as Rohit Narang, co-founder & COO of Trusting Social, a big data analytics firm specializing in credit scoring on alternate data, has joined the company as managing director for the region.

Currencycloud claims to process over $3 billion in international payments each month with Asia-Pacific one of its fastest-growing regions. Associated transaction volumes trebled across its platform in 2020.

The company expects to hire double digit number of employees by the end of 2021 and is applying for a license with the Monetary Authority of Singapore.

Currencycloud said the new office will allow it to provide on-the-ground support for existing customers while bringing its embedded solutions more FinTechs, banks and financial institutions amid a surge of digital payments during the Covid-19 pandemic.

Todd Latham, chief growth officer at Currencycloud, said: “Asia Pacific is a hotbed of financial innovation, and we anticipate significant ongoing growth of FinTech companies across the region. We aim to provide the pipes for all these FinTech companies when moving money across borders, helping them focus on building innovative products for their customers.”

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