Proxtera Launches a Multi-Currency Exchange for ASEAN and African Currencies
by Fintech News Singapore November 2, 2022Proxtera has launched the beta version of a multi-currency exchange platform, the Emerging Markets Currency Exchange or EMCX, in partnership with WorldFirst, Liquid Group, Thunes and Wise.
The EMCX digital hub is being trialed by Singapore SMEs trading across Africa and Asia with the Ghanian Cedi and Philippines Peso against the Singapore and US dollar.
SMEs will be able to avail of accurate exchange rates to conduct their cross-border payment settlements in their local currencies, and use the WorldFirst Digital Wallet to track and record transactions.
Businesses signing up to the EMCX will also have access to the Proxtera network and its ecosystem of trade, financing other service providers.
Proxtera provides SMEs with wider trade, financing and digitalisation discoverability through integrations with B2B marketplaces.
Saurav Bhattacharyya
“We are excited to provide SMEs with yet another tool to optimise their cross-border trades involving foreign currencies. EMCX (Beta) also increases the transparency in exchange rates in ‘exotic’ currencies allowing businesses to make informed decisions on their payment options,”
said Saurav Bhattacharyya, Chief Executive Officer, Proxtera.
Daniel Chua
“We’re excited to partner with Proxtera in providing businesses a hassle-free way to pay and get paid globally. This partnership will be an instrumental move in creating growth opportunities for Singapore MSMEs navigating new and emerging markets,”
said Daniel Chua, Head of Commercial for Southeast Asia, WorldFirst.
