Travelex has signed up to independent online currency exchange Currenex's Web-based service, FXtrades, and will participate as the first non-bank FX dealer on the platform.
FXtrades is a real-time foreign exchange platform by Currenex that provides services for initiation and execution to settlement and reporting for any currency pair.
Users will now be able to request competitive prices from the non-bank foreign exchange operator.
The arrangement complements Travelex's foreign exchange payment service. John Farmelo, vice president of Travelex Global Payments, says: "A significant portion of our largest customers are making trades with us outside of the payments realm, and Currenex gives us the opportunity to provide this FX service."
Yogesh Shetty, group director of Travelex Global Payments, adds: "We look forward to expanding our relationship with Currenex from providing integrated payment solutions to achieving straight-through processing with our global customer base."