Foreign exchange (Forex) stories
Velocity raises USD $10 million in pre-seed funding to build a stablecoin platform, aiming to simplify cross-border payments for enterprises.
UK firms are extending FX hedge lengths in 2025 amid tariff-driven volatility, benefiting from a weaker US dollar and favourable exchange rates.
Amid tariff-driven volatility and a rising pound, 54% of UK firms lengthen FX hedges, securing financial protection amidst shifting market conditions.
Revolut has launched travel insurance for Premium and Metal users in Australia and New Zealand, partnering with Chubb to enhance travel benefits locally and abroad.
Revolut reported record 2024 results with AUD $4.4m net profit in Australia and USD $1.0bn globally, driven by surging customers and revenues.
Ripple has announced the acquisition of Hidden Road for USD $1.25 billion, making it the first crypto firm to manage a global multi-asset prime broker.
Research by MillTechFX reveals that over 75% of firms faced losses from unhedged foreign exchange risks in 2024, prompting strategic adjustments in hedging.
Morgan Stanley has partnered with Wise to enhance its foreign exchange settlement capabilities, marking a first for an investment bank in this area.
Kyriba's Q4 2023 report highlights a $95bn total currency impact on revenues of 1700 public North American and European companies.
Fintech firms Paysend and Currencycloud expand partnership, aiming to extend Paysend's global services and boost its foreign exchange capabilities, potentially benefiting customers worldwide.
Kyriba's latest CIR unveils a $30bn FX impact on 1,200 multinational firms in Q3 2023, highlighting FX's influence on revenues and cash flows.
Amid a shift towards integrated financial solutions, the Asia-Pacific region's business payment landscape is set for major changes.
Universal Partners opens the FX Academy in Canary Wharf, a landmark initiative aimed at diversifying fintech by educating fresh talents without previous experience or qualifications.
New research reveals 78% of Aussie travellers face hidden bank card fees abroad, with charges costing some up to AUD $4,000 annually on holidays.
Revolut has launched a feature enabling New Zealand customers to open local EUR accounts, enhancing transaction efficiency and currency management.
NTT DATA has adopted Luminance's Legal-Grade AI to streamline legal processes across Europe, enhancing contract negotiations and minimising risk.
Airwallex has launched in New Zealand, appointing Lowry Gladwell as its first local hire, aiming to provide Kiwi businesses with innovative payment solutions.
Atlys has launched its predictive visa technology in the UK, aiming to simplify the application process for millions of non-UK passport holders.
Airwallex has launched its 'Airwallex for Startups' programme in New Zealand, offering resources and a NZD $10,000 grant to support local entrepreneurs.
OpenPayd doubles growth for the second year, hitting over GBP £40 million ARR, as embedded finance adoption surges. CEO Dimitrova eyes new milestones.