Currenxie has unveiled a tailored business account solution for small and medium-sized enterprises (SMEs) in the UK, focusing on facilitating cross-border payments and enabling entry into global markets.
This Hong Kong-based fintech firm, founded in 2014, provides a multi-currency platform that includes foreign exchange services, bank transfers, wallet payments, and Visa Business cards. The introduction of this solution in the UK aims to empower SMEs with a real-time, round-the-clock FX service and a unified account for handling cross-border transactions across multiple currencies.
Regulatory Compliance and Scale
Currenxie possesses an Electronic Money Institution licence from the UK’s Financial Conduct Authority (FCA) and holds licences in various jurisdictions, including Australia, Canada, Hong Kong, South Africa, and the United States. Additionally, it received authorisation as an EMI from Ireland’s Central Bank in the first quarter of 2025, allowing it to operate across the European Economic Area from its Dublin office.
The company currently serves over 14,000 clients worldwide and has processed more than USD 17 billion in transfers for merchants in Europe, Asia, and North America since its inception. In 2025, the total volume of funds processed increased by 23% year-over-year, reaching a new annual payment volume milestone of over USD 5 billion.
Market Context
The launch in the UK occurs against the backdrop of escalating operational costs for businesses conducting international trade. The Chartered Institute of Procurement and Supply recently cautioned that consumer goods prices are projected to rise in 2026, with 22% of supply chain businesses reporting a more than 10% increase in shipping costs. For SMEs managing international supplier relationships, foreign exchange expenses serve as one of the few manageable factors amidst a challenging financial landscape.
According to Sam Coyne, CEO Europe at Currenxie, businesses with global operations encounter ongoing issues related to payment costs, delivery speed, and transparency. Access to cost-effective cross-border payment solutions is crucial for SMEs looking to engage international suppliers and expand into new markets. The company’s in-house development of its payments technology ensures complete control over product development and cost structure.
