Banking Digital Payments News

FV Bank Launches Cross-Border FX Payments Service

FV Bank Launches Cross-Border FX Payments Service

New offering provides fast, secure, competitive international FX payment options for global businesses

FV Bank, the U.S. licensed global digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services to fintech and blockchain firms, has announced the launch of their cross-border foreign exchange (FX) payments service for its U.S. and international account holders.

The new offering enables FV Bank clients to execute frictionless international payments in seven currency options of EUR, GBP, CAD, HKD, SGD, ZAR, and JPY, across more than 150 countries, with additional currency options to be rolled out in the future. The service features market-leading competitive FX rates, making it easy for businesses and individuals to transact internationally in a fast, secure, lower-cost manner.

Latest Fintech News: Despite an Uncertain Economy, the State of Banking Is Full of Hope With Nearly Every Bank Expecting to Grow in 2023

“We’re pleased to announce the launch of our integrated cross border payment service for our FV Bank account holders,” said FV Bank CEO, Miles Paschini. “Adding cross-border payment options to our suite of digital banking products provides our clients with increased efficiencies, convenience, cost-savings, and reliability for their international payment processing requirements. FV Bank continues to deliver pivotal infrastructure to the marketplace as we strive to provide market leading banking services to our clients while accelerating digital asset adoption globally through our integrated custody and settlement solutions.”

FV Bank’s new cross-border foreign currency payments service will also benefit the company’s clients operating in the digital asset industry. Customers will be able to receive USD Coin (USDC) directly into their account and have it instantly converted into U.S. dollars (USD) upon deposit. Customers are then able to then send foreign currency cross-border payments in the currently supported seven currency options via the FV Bank platform or API. The service will assist companies with international payroll expenses, corporate expenses, and payment service provider (PSP) conversions.

Latest Fintech News: Priority Technology Strengthens Portfolio with Gifting Solutions Partnerships with Factor4 and GiftYa

The launch of FV Bank’s cross-border international payments service is the latest in a series of innovative technology and service enhancements that seek to offer the most comprehensive integrated banking service in the market. The company recently announced the launch of their digital asset custody and settlement solution, becoming the first U.S. regulated depository and custodial bank to develop an in-house vertically integrated technology infrastructure that enables the seamless interoperability and safeguarding of both digital asset and fiat deposits.

Related posts

WebBank Announces Shannon Hutchings Named SVP-Engagement, Brand and Strategy Deployment

Fintech News Desk

Hello Alice Announces Series C Funding Round and Expands Community to 1.5 Million Small Businesses

PR Newswire

Tegra118’s RetireUp Adds Protective Life Insurance Company to Growing Roster of Insurance Carriers

Fintech News Desk
1