Cloud-based clearing bank ClearBank has announced the launch of a new multi-currency solution aimed at reducing friction for financial institutions and FinTechs who offer cross-border payments and FX capabilities.

VertoFX, a B2B currency exchange marketplace and payments platform, is the first to use ClearBank’s multi-currency product.

The new multi-currency offering will enable users to transact internationally connecting UK and European SMEs with a multi-currency bank account and FX solutions.

The technology can also be integrated into platforms that currently have a multi-currency offering.

“We’re delighted to be beginning our journey towards ensuring seamless cross-border payment solutions and to have VertoFX as our first multi-currency customer,” said Charles McManus, chief executive at ClearBank. “Our contribution to the payments landscape in Sterling has already been incredibly positive and influential, and we’re confident our new, multi-currency offering can continue this notion and meet the demands of the next generation of consumers and businesses and simplify FX.”

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