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Singapore fintech TranSwap to build Edinburgh R&D centre

Singapore fintech TranSwap to build Edinburgh R&D centre

Singapore-based cross-border payments platform TranSwap is making a move into the UK market with plans to open an Edinburgh research and development centre employing more than 50 people.

Already established in Hong Kong, Indonesia and Malaysia, TranSwap has identified the UK as the base from which it will look to expand outside of Asia Pacific.

Benjamin Wong, CEO, TranSwap, says: "Besides serving as a strategic gateway into Europe, the UK is also a highly sought-after investment destination for businesses. It has a vibrant, entrepreneurial fintech sector and businesses play a vital role in the country’s economic growth and sustainability."

The firm will set up its R&D centre at the University of Edinburgh’s Bayes Centre, creating 54 jobs over the next three years, including high-value roles such as machine learning engineers and full-stack developers.

Ivan McKee MSP, Scottish Government minister for trade and innovation, says: "Today’s positive announcement by TranSwap underlines Scotland’s position at the forefront of global fintech development. The company’s choice of Edinburgh for its new global R&D centre will create high value jobs and is another step towards our goal of being ranked among the world’s top five fintech cluster nations."

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