FV Bank, the U.S. licensed global digital bank, has today announced the launch of their cross-border foreign exchange (FX) payments service for its U.S. and international account holders.
FV Bank offers a vertically-integrated suite of traditional and digital asset banking and custody services to fintech and blockchain firms.
The new offering enables FV Bank clients to execute frictionless international payments in seven currency options of EUR, GBP, CAD, HKD, SGD, ZAR, and JPY, across more than 150 countries, with additional currency options to be rolled out in the future.
The service features market-leading competitive FX rates, making it easy for businesses and individuals to transact internationally in a fast, secure, lower-cost manner.
Miles Paschini, FV Bank CEO, said: “Adding cross-border payment options to our suite of digital banking products provides our clients with increased efficiencies, convenience, cost-savings, and reliability for their international payment processing requirements.”
“FV Bank continues to deliver pivotal infrastructure to the marketplace as we strive to provide market leading banking services to our clients while accelerating digital asset adoption globally through our integrated custody and settlement solutions,” Miles added.
FV Bank’s new cross-border foreign currency payments service will also benefit the company’s clients operating in the digital asset industry. Customers will be able to receive USD Coin (USDC) directly into their account and have it instantly converted into U.S. dollars (USD) upon deposit.
Customers are then able to then send foreign currency cross-border payments in the currently supported seven currency options via the FV Bank platform or API. The service will assist companies with international payroll expenses, corporate expenses, and payment service provider (PSP) conversions.
The launch of FV Bank’s cross-border international payments service is the latest in a series of innovative technology and service enhancements that seek to offer the most comprehensive integrated banking service in the market.
The company recently announced the launch of their digital asset custody and settlement solution, becoming the first U.S. regulated depository and custodial bank to develop an in-house vertically integrated technology infrastructure that enables the seamless interoperability and safeguarding of both digital asset and fiat deposits.
You can download the FV Bank FX Payments factsheet here.
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