Payments

CurrencyFair and Assembly Payments to Merge After Investment from Standard Chartered

CurrencyFair, a global cross-border payments platform and Assembly Payments, whose platform automates complex payment workflows, today announced their merger as a result of a strategic investment by Standard Chartered, subject to shareholder and regulatory approval.

SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered is doubling down on its commitment to the rapidly growing payments industry, following its earlier investment in Assembly Payments in 2020. Paul Byrne, CEO of CurrencyFair, will lead the merged business.

Bill Winters

Bill Winters, Group Chief Executive of Standard Chartered, said:

“Digital payments is a core strategic area for Standard Chartered and our 2020 investment in Assembly Payments greatly enhanced our presence in the domestic payments business. By bringing together the complementary strengths of CurrencyFair and Assembly, we are supporting the merged company in offering the full range of payment services, providing retail and corporate clients access to fast, high-volume domestic and cross-border payments.”