The company providing a vertically integrated suite of both traditional and digital asset banking and custody services to fintech and blockchain firms aims to enable with this new offering international FX payments options for global businesses that are fast and secure.
Details on the cross-border FX payments service
As per details provided in the press release, FV Bank’s new offering is set to enable clients to execute frictionless international payments in seven currency options of the likes of EUR, GBP, CAD, HKD, SGD, ZAR, and JPY, across over 150 countries, with additional currency options set to be rolled out in the time to come. Furthermore, the service features competitive FX rates, looking to make it easy for businesses and individuals to carry out international transactions in a fast, secure, and lower-cost manner.
When commenting on the launch of the integrated cross-border payment service for FV Bank account holders, company officials advised that the addition of cross-border payment options to their suite of digital banking products provides their clients with increased efficiency, convenience, cost-savings and reliability for their international payment processing requirements. They continued by stating that FV Bank keeps on delivering ‘pivotal’ infrastructure to the marketplace as they aim to offer ‘market leading’ banking services to their clients, while simultaneously accelerating digital asset adoption globally through their integrated custody and settlement solutions.
As detailed in the announcement, the launch of the FV Bank cross-border international payments service marks the latest in a series of innovative technology and service enhancements that aim to provide the most comprehensive integrated banking service in the market.
FV Bank company information and recent developments
FV Bank is a global digital bank and digital asset custodian regulated by the Office of the Commissioner of Financial Institutions (OCIF), Puerto Rico, USA, and integrates banking and payments with digital asset custody services in a regulated and compliant infrastructure. The company offers products ranging from depository accounts and payment services to digital asset custody and VISA card issuance, aiming to support the requirements of corporates, institutions, family offices and their clients via Online Banking and integrated API solutions.
As per press release information, the company announced the launch of a digital asset custody and settlement solution, becoming a US regulated depository and custodial bank to develop an in-house vertically integrated technology infrastructure that enables the interoperability and safeguarding of both digital asset and fiat deposits.
In
February 2022, the company first announced the introduction of its first API, looking to advance bank automation and integration for its clients’ operations. In
January 2022, the company invested in DIRO, the developers of the Original Documents Online technology, and integrated its solution into its account opening protocols to facilitate compliant automation of know your customer (KYC) and know your business (KYB) processes.
