By utilising Currencycloud Spark, TranSwap’s multi-currency account allows customers to hold 34 currencies, receive and payout funds. TranSwap, through the Global Borderless Virtual Account (GBVA), offers customers the ability to collect and hold funds in the US, UK and EU, as well as convert to other currencies.
The GBVA offering provides customers transparency in fees and foreign exchange rate conversions. Businesses will also be able to manage their cash flows whilst giving them a possible advantage in their local markets. TranSwap is aiming to onboard 10,000 SMEs by the end of 2020.
The integration of Currencycloud Spark into TranSwap’s offerings is meant to help corporates and SMEs that are exporting and selling products from Singapore or Hong Kong and need to find a way of collecting funds from overseas.
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