FXellence and Currencycloud
What our partnership means to your business
Discover the key benefits of FXellence’s partnership with Currencycloud, a Visa solution - and how it could benefit your business.
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Who is Currencycloud?
Currencycloud is Visa's solution to empower Banks, Fintechs, and FX Brokers to offer multi-currency services quickly and easily through a ready-made suite of solutions.
Launched in 2012, they have processed more than $100bn to over 180 countries, working with banks and Fintechs across the world.
Who is Visa?
Visa are a world-leading digital payments network that removes barriers and connects people to the global economy. They aim to uplift everyone, everywhere by being the best way to pay and be paid.
Visa acquired Currencycloud in 2021 in a deal worth £700m - you can read more in the below article from Reuters.
What does this mean for FXellence?
Our partnership with Currencycloud, a Visa solution, allows us to tap into the global network of both Currencycloud and Visa, enabling fast and secure payments from a known and trusted name. Furthermore, our clients benefit from the combination of our easy-to-use and intuitive payment system, our first class service and comfort in the knowledge that we're partnered with reputable and well established companies.
Read more in the below article.
Counterparty Risk
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Your funds' safety is paramount. When you make a payment with FXellence, you transfer your funds directly to Currencycloud, who process all our payments.
Since their incorporation in 2012, Currencycloud has processed over $100bn in payments to more than 180 countries worldwide. They have implemented the following safeguards:
Our partnership enables you to get the benefits from using our newly developed, intuitive platform and the peace of mind that your funds are being handled and safeguarded by industry experts.
⭐ Separate accounts
Client funds are kept in dedicated bank accounts, distinct from Currencycloud's operational funds.
⭐ Tier-one banks
Highly reputable banks are used, offering strong financial stability to protect your money.
⭐ Regulatory compliance
Currencycloud operates under strict regulations, adhering to proper safeguarding procedures.
⭐ No credit risk
As a payment processor, Currencycloud does not extend credit to clients, further mitigating risk.
Security Risk
Currencycloud:
✔️ Is ISO/IEC 27001:2022 compliant and operates robust processes to protect their systems.
✔️Utilises banking-grade security measures to protect online accounts.
✔️Has dedicated systems in place to protect against Distributed Denial of Service (DDoS) attacks as well as man-in-the-middle attacks.
✔️Uses reputable registrars to protect against domain hijacking and “phishing” attacks.
✔️Ensures the platform undergoes regular penetration testing and has protection in place against common vulnerabilities like code injection attacks and cross-site scripting attacks.
✔️Encrypts all network traffic at a transport level and confidential information is encrypted at rest.
✔️Employs best practices for encryption key storage and security.
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Compliance & Regulation
Our partnership ensures full compliance with industry regulations. Currencycloud is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
Additional benefits
💡 Global Reach
Currencycloud supports payments in over 30 currencies to over 180 countries, facilitating market expansion.
💡 Local bank relationships
Payments can be sent via local bank networks in 17 currencies, enabling significantly lower payment fees.
💡 Multi-Currency Wallet
Hold balances, convert, send and receive in multiple currencies, all in one place.
Book a free demo or talk to us about your FX needs
Get started today
Don't let currency conversion fees and complex banking procedures slow down your business. Open your multi-currency account today and experience hassle-free global transactions
Have questions?
Our friendly UK based support team is here to help - 0207 856 0468 (Mon-Fri 9am-5pm) contact@fxellence.com