Currencycloud, known for simplifying business in a multi-currency world, has partnered with South Korean cross-border payment company MOIN to expand its global coverage. The collaboration aims to deliver faster processing times, lower transaction costs, and enhanced security measures for customers making cross-border payments.
MOIN’s goal is to empower its individual and business customers by reducing unnecessary remittance-associated costs. By working with Currencycloud, MOIN will be able to respond to fluctuations in the foreign exchange (FX) market around the clock.
Thanks to Currencycloud’s competitive FX rates, MOIN will save on FX costs and pass those savings onto customers. Additionally, with the ability to process more than 33 currencies through Currencycloud, MOIN can offer a faster and more cost-effective remittance service compared to using multiple providers.
Ilseok Suh, the CEO of MOIN, explains that the collaboration with Currencycloud not only enables fast and low-cost remittances but also ensures global regulatory compliance and anti-money laundering measures. This commitment to stringent criteria helps uphold the safety and security of customers’ remittances.
Rohit Narang, Managing Director of APAC at Currencycloud, expresses delight in being part of MOIN’s solution as they continue their global expansion plans. MOIN, which was established in 2016, focuses on reducing the inefficiencies of cross-border payments by developing its own payment network.
Initially targeting students studying abroad, MOIN has expanded its reach to cater to businesses and e-commerce platforms. Currently operating in six regions, including South Korea, Singapore, Japan, Hong Kong, the USA, and Lithuania, MOIN is in the process of acquiring the Remittance License.
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