Currencycloud Spark signs up Starling, TranSwap and Remitr to wallet trial

Currencycloud has rolled out Currencycloud Spark with Starling Bank, TranSwap and Remitr.

The multi-currency wallet enables businesses - and their customers - to receive, store funds and make payments in more than 30 different currencies, almost anywhere in the world.

A statement from the cross-border money transfer firm said that the difficulty in opening accounts in a foreign currency means that firms regularly run into invoicing hurdles - with payment processes that are opaque, expensive and protracted.

Currencycloud Spark lets financial firms create accounts for their customers to receive, pay-out and move money in different currencies. Using unique International Bank Account Numbers (IBANs), means that this is all done via one multi-currency wallet in their own name.

The pilot programme for Currencycloud Spark was announced in 2019. Ahead of launch, over 30 FinTechs signed up to the functionality.

Remitr Global Business Account (GBA) recently launched with the help of Currencycloud Spark. GBA empowers small businesses to get paid in multiple currencies without paying bank fees or having to open an overseas bank account.

Starling Bank is using the trial to help small business customers open USD accounts, while TranSwap used Currencycloud Spark to power its Global Borderless Virtual Account.

    Share Story:

Recent Stories

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.