Since FX is one of the last great ripoffs in finance, this might actually be a pretty big deal.
The Currency Cloud Secures $4M To Disrupt The Trillion Dollar Foreign Exchange Market
The Currency Cloud has developed a Foreign Exchange (FX) payments automation platform which supercharges the tired old world of cross-border business payments, aiming to reduce costs for business and make multi-currency payments more frictionless. Since FX is one of the last great ripoffs in finance, this might actually be a pretty big deal.
Why is this interesting? Well, we’re talking about a team from the City of London that built the UBS online FX platform bringing their skills and experience to the combined revolutionary powers of the Cloud and SaaS.
Obviously Foreign Exchange is a big market to attack. According to the Bank for International Settlements, the average daily turnover in global foreign exchange markets is estimated at over $4 trillion.