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INTL FCStone’s Global Payments Division‘s foreign currency pricing has picked up enough momentum to extend beyond its initial launch to more than 350 correspondent banks globally.
The Global Payments Division released the FXePrice platform to an initial group of correspondent banks in emerging markets in June of 2018. The platform feeds rate information to the IFL network, which operates in 175 countries and specializes in exotic currency payments and payments made throughout the developing world.
The company says the success of its initial launch has resulted in the free platform being available to its entire network of counterparties this year as it continues to build transparency for cross-border payments, which can be difficult in emerging markets.
“In emerging markets, the
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