Currencycloud drives European expansion with e-money license
The license, which enables Currencycloud to store money and operate e-wallets on behalf of its clients, will be instrumental in facilitating the company’s further expansion across the European continent.
One of only seven examples issued by Dutch Central Bank, the London-based company hopes to expand past its office in Amsterdam and bring its particular brand of fast, easy and transparent payment solutions to new markets.
“Covid-19 has accelerated the rush towards digital payments and Europe represents a tremendous opportunity for Currencycloud,” said Mike Laven, CEO.
“The Netherlands possesses the perfect blend of factors to support our expansion in the EU. It has a strong fintech sector, access to top talent and a safe regulatory environment, which allows us to keep driving forward our services and product.”
Solutions built on smart tech
A fintech working at the cutting-edge of the latest payment technology, Currencycloud’s developers use customisable API ‘building blocks’ to create bespoke solutions for its customers.
Experienced at serving banks, financial services businesses, other fintechs and FX brokers, solutions offered on the company’s platform include:
- : A payment tool which facilitates the easy collection of currency in foreign countries.
- : Offers real-time access to wholesale exchange rates, allowing money to be converted at an agreed rate via a Currencycloud Account.
- : Allows users to manage domestic and international payments in a direct and controlled manner, with options for automation.
- : Effectively and intuitively presents information on balances, notifications, permissions, reporting and more.
Dave Kelcher, CEO at Shift Connect, stated that the collaboration would be mutually beneficial:
“Our partnership with Currencycloud will allow us to move swiftly into new territories and deliver the fast, secure, stress-free and competitive payments service we have become known for in Canada.”
Meanwhile, Richard Arundel, General Manager and Co-Founder of Currencycloud, recognised that, while expansions can be time-consuming and costly, the company would be working to make the process as easy as possible.
“Our platform, which includes a global payments network, regulatory coverage and efficient on-boarding processes, will help Shift Connect to expand their business internationally both quickly and efficiently and allow them to concentrate on the important work – attracting new customers and building on the success that they’ve had in Canada.
“We look forward to supporting them with their global expansion.”
Everton FC signs Sokin as its global payment partner
Everton Football Club have signed up Sokin as their official global payments partner.
Sokin is a new global currency account provider that specialises in creating open and transparent payments platforms.
The innovative fintech which launched in 2019, has agreed to a multi-year partnership that will see Sokin’s cutting-edge platform handle the Liverpool-based football club’s global currency transactions.
Disruptive startup fintech
Sokin’s founder Vroon Modgill, a first-generation immigrant, discovered how cumbersome money exchanges were and set about creating a frictionless system that can transfer funds cheaply, swifty and easily to global destinations.
The London-based fintech has grown massively since its launch and now has offices in 10 countries. Sokin also provides a streamlined subscriber platform that opens up global access to FX transfers and payments, allowing people and businesses to transact in 38 currencies and 200 countries and territories.
Fintech partnership with Everton FC
The long-term agreement with Everton sees Sokin further boost the Blues’ growing partnership portfolio while the fintech’s collaboration with the football club strategically supports Everton's FX and payments requirements via its global platform.
The partnership will also propel Sokin into a new position as a leading global fintech provider. Modgill said of Everton FC, “This ethos is a fantastic fit for Sokin’s services. As a leading financial service provider, we exist to make global payments simple and offer a trouble-free service that our customers can trust.
“We look forward to seeing the Sokin name appear around Goodison Park – one of football’s most iconic stadiums – and embarking on this journey together. Sokin – the People’s Card, working with the People’s Club.”
Speaking about the partnership, Alan McTavish, commercial director at Everton, explained, “We are delighted to welcome Sokin on board as our newest club partner and look forward to helping them promote their leading global payments offering to millions of our fans and followers around the world.
McTavish added, “Working with such a global brand is an integral part of our commercial growth strategy. Sokin is a truly innovative, forward thinking company that puts its customers and customer experience at the centre of its operation and is a perfect fit within our exciting partnership portfolio.”