Standard Chartered invests in the merger of CurrencyFair with Assembly Payments

Global ecommerce sales, estimated to be almost USD 26 trillion in 2018, have further accelerated as businesses and consumers look to the digital marketplace due to COVID-19. A number of these transactions have taken place between continents and markets, resulting in cross-border digital payments becoming more complex and requiring workflows that involve many steps, systems, and interactions.

Recognising this opportunity, the new company will focus on addressing key pain points including the fragmentation of payment ecosystems, implementing different payment ecosystems from a technical, operational, financial, and regulatory perspective, privacy and security of data, and cross-border ecommerce for multi-market and multi-currency collection requirements.