Case Study: Wallex increases cross-border payment volume with Currencycloud Spark

Currencycloud Spark Liberates Wallex’s Asia-pacific Clients to Behave Like a Local Across Multiple Markets

Wallex is a Singapore-based business-to-business FX and payments solutions provider that was established in 2016 to address high exchange rates and transfer fees on international payments. Its customers were using regional banks to collect funds in USD, GBP, and euros or to route international payments into local accounts, creating a process that was cumbersome, expensive, and slow.

In Q4 2020, Wallex integrated Currencycloud Spark into its platform to offer multi-currency payout and collections, named accounts, and the choice of SWIFT or local channels. With Currencycloud, Wallex says transaction volume has increased 10-fold, customer onboarding has risen significantly, and the company has reached its largest trading volume while giving customers access to 34 currencies via SWIFT and holding money in 33 currencies.

Wallex

Hiroyuki Kiga

COO and Co-Founder