Moneycorp Americas, a world-leading payments services provider for banks, businesses, and consumers, is today announced as an FX liquidity provider for Digital Asset Exchanges (DAXs) around the world.
This new vertical will help supply forex liquidity rails to Digital Asset Exchange providers around the world with competitive FX rates and better settlement times than traditional banks. As a new industry, Digital Asset Exchanges have typically been underserved by traditional banks due to their limitation and regulatory challenges. By using Moneycorp’s FX liquidity and services, DAXs will experience better turnaround times and more accurate delivery.
“With the rise in digital currencies, we feel this is an opportune time for Moneycorp to join in the space and make an impact on the future of digital payments,” said Bob Dowd, Chief Executive Officer of Moneycorp Americas. “Due to industry risk and limitations, digital currency investors still face many hurdles when it comes to facilitating transactions and this is where Moneycorp is hoping to offer its services by delivering funds faster and saving them money.”
According to a recent industry report, DAXs have significantly increased in popularity with over $14 trillion in trade volume in 2021, and with the prediction that there will be 1 billion crypto users by 2027, this exciting new market is ripe for disruption. By tackling the long-standing pain points of this industry, Moneycorp’s new vertical is a key milestone for digital payments.