Financial payment services company Visa recently announced the acquisition of foreign exchange solutions company Currencycloud, according to a press release.
The deal will allow Visa and Currencycloud clients to access a global platform that will allow banks and financial technology companies to grant foreign exchange solutions for cross-border payments and facilitate international payments in different currencies.
Visa's mission is "To connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive," according to a release from Business Wire. "The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce."
Currencycloud’s cloud-based platform supports more than 500 banking and technology clients in nearly 200 countries.
Since 2012, the company has processed more than $100 billion in transactions.
Currencycloud is headquartered in London with offices in New York and Amsterdam.