International payments provider Currency Cloud has opened its first US office in New York City, the company announced yesterday.
The company’s Payment Engine API powers over 100 FinTech firms, allowing them to fully automate and manage all aspects of their international payments. It currently works with companies including XE.com, WorldRemit and Payoneer.
Currency Cloud has already seen significant success in Europe, with customers processing $10 billion in international payments. The company’s rapid growth led it to make payments to 170 countries and serve over 150,000 end customers in last year alone.
“Businesses find making international payments slow and costly,” said Currency Cloud CEO Mile Laven. “While we live in a digital age, it’s surprising that it costs more to send money from the US to Europe via a bank than it does to send a letter. It’s antiquated!”
“Businesses desperately need functionality to enable them to compete around the world,” he continued in a company release. “Automation of payments and access to corporate grade payment methods is becoming more and more important in an increasingly digitized global economy.”
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