The collaboration seeks to deliver cost-efficient experiences for global investors purchasing US stocks and comes on the heels of several recent Airwallex partnerships within the wealth tech category, including Public and OurCrowd.
Based on the information detailed in the press release, Alpaca’s mission is to enable access to financial services for everyone on the planet. By embedding Airwallex’s FX solutions into its offering, Alpaca helps make it easier for its broker partners to provide their retail customers with a simplified local currency investing experience, free of the difficulties associated with converting their native currency into USD.
Through the collaboration with Airwallex, Alpaca and its broker partners are enabled to leverage the company’s global network of local collection and payment rails to support funding and settling transactions in an extensive array of currencies, starting with Australian dollars (AUD), Canadian dollars (CAD), and Euros (EUR), amongst others, while concomitantly managing FX risk in an effective manner.
A 2015-, Melbourne-founded and Singapore-headquartered company, Airwallex has 20 offices worldwide and has built financial infrastructure and global payment capabilities that look to help companies unlock new capabilities and grow without limits. Commenting on the announcement, Airwallex officials said that Alpaca is unlocking access to the US stock market at a global scale, and the company is looking forward to supporting it and its customers in achieving simplified and efficient investment across currencies, continents, and time zones.
More to this point, Alpaca representatives advised that companies such as Airwallex help simplify how customers access investing opportunities across the globe with its seamless FX solution. Per their statement, by simplifying global payments and eliminating currency conversion hassles for its broker partners, Alpaca is looking to provide its retail customers with an advanced investing experience.
A developer-first API brokerage platform that has raised more than USD 100 million in funding, Alpaca offers stock and crypto trading, real-time market data, and end-to-end brokerage infrastructure through modern APIs.
A global financial platform for modern businesses, Airwallex offers trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With its proprietary infrastructure, it takes the friction out of global payments and financial operations, empowering businesses no matter the size to unlock new opportunities and grow beyond borders.
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