Visa – the leading payment processing company – has completed the acquisition of CurrencyCloud for a whopping 700 million British pounds, worth around $925 million.
- In a press release from December 20th, the payment processing mogul Visa announced that it had completed the acquisition of CurrencyCloud.
- The latter is a platform that allows banks and fintech companies to provide foreign exchange solutions for cross-border payments.
- The acquisition is worth 700 million British pounds or about $925 million, according to the deal that was signed back in July this year.
- CurrencyCloud also confirmed the news through their Twitter account:
Exciting times ahead for Currencycloud as @Visa announce the completion of the acquisition.
We look forward to working together to bring greater transparency, flexibility and control for businesses moving money around the world! pic.twitter.com/R5BCYjgGHg
— Currencycloud (@Currencycloud) December 22, 2021
- It’s also worth noting that CurrencyCloud partnered up with Ripple back in July 2020.
- The focus of this partnership is to process cross-border payments on RippleNet.