Currencycloud granted an AFS licence

  • By Zilla Efrat

Foreign exchange group Currencycloud, a subsidiary of Visa, has been granted an Australian Financial Services (AFS) licence by the Australian Securities and Investments Commission (ASIC) and can now offer its full suite of services to Australian businesses.

The granting of the AFS licence follows the appointment of Nick Briscoe as country manager,  Australia, in January of this year and gives Currencycloud the springboard to build the team and  ramp up customer support in the country.

“The fintech landscape here is incredibly vibrant and highly sophisticated in its approach to both clients, and service providers,” says Briscoe. 

“Gaining our Australian licence puts us in a great position to support our existing Australian clients and their ambitions, as well as work with other businesses across the country.”

Currencycloud is now actively recruiting for key hires across sales and operations

The company has some fast-growing clients in Australia, but to date, the services they have been  able to use have been limited to international payments only. Now those clients will be able to provide customers with collections, management services and Currencycloud’s multi-currency ewallet: Currencycloud Spark, which allows clients’ customers to pay, collect and hold more than 30  currencies in one account.

Since 2012, Currencycloud has processed more than $100 billion to over 180 countries, working with  banks, financial institutions and fintechs around the world, including Starling Bank, Revolut, Penta  and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore,  Currencycloud was acquired by Visa in December 2021.