Currencycloud (The Currency Cloud) Review

Alon Rajic
Last Edited Jan 22, 2023

Currencycloud (registered name The Currency Cloud Limited) is probably the largest fintech you’ve never heard of. As a B2B technology provider, they’ve been referred to as “the secret pipes powering the vast majority of Fintechs”. Given Currencycloud does not provide its services directly to users, we’ve compiled this non-standard review of Currencycloud, helping to explain questions like who is Currencycloud? What does Currencycloud do? And, who uses Currencycloud?

Who is Currencycloud?

Currencyloud is one of the hottest fintechs to hit the money transfer scene, period. Founded in 2012, it’s grown beyond being a start-up, to a company able to provide full-scale financial infrastructure and enterprise-class solutions all over the world. Whether that’s to small payment providers or multinational banks. What started as a simple FX tool evolved into a full-scale Software-as-a-Service solution for payment providers worldwide.

Originally launched in London, has grown to include offices in Cardiff, New York, Amsterdam and Singapore. As a remote-first company, they now have around 400 employees and continue to grow fast.

Currencycloud continues to invest heavily in its API platform and payment infrastructure to this day. In March 2022 Currencycloud launched 24/7 weekend payments for its clients, meaning that customers can continue to operate their businesses and execute FX conversions in exactly the same way they do throughout the week. It’s likely the FX spread will be wider than midweek in order to account for volatility risk. In the same month, the firm also partnered with Moov to provide local domestic payment capabilities for its clients in the US. A usually troublesome area for payment providers, this offers a genuinely unique solution. In June 2022, Currencycloud gained an AFS licence to offer its full suite of products throughout Australia. Some Australian payment companies like Send had already been using Currencycloud for payment services in the UK & Europe but the new licence will allow the tech firm to help international businesses operate in Australia itself.

Which is the best Currency Cloud brokerage?

As the numbers of currency brokers which use CurrencyCloud as an infrastructure grows, so does the competition. There are many contenders to which is the best currency-cloud powered company. Send Payments, previously known as SendFX, is an up and coming Australian money transfer services, and its our #1 best rated money transfer service in Australia. Send offers a friendly service, top of the line trading system (Currency Cloud based, of course), and very strong reputation and user acceptance with 99% positive feedback.

Visa / Currencycloud

The firm has completed a number of funding rounds, raising over $160 million to date from names that include BNP Paribas and GV (Google Ventures). Most recently, Currencycloud was acquired by Visa in December 2021, valuing the firm at £700 million. The Visa Currencloud move made a lot of sense, building on an existing partnership between Visa & Currencycloud which supports over 500 banking and technology clients.

Currencycloud / Revolut

The Currencycloud Revolut partnership is arguably the most successful integration the company has had. The partnership has been running for seven years – a time that saw Revolut’s valuation soar to over £33 billion, making it one of the UK’s highest valued fintechs. Nowadays, Revolut sends over 66,000 payments a month through Currencycloud’s payment infrastructure.

Since inception, Currencycloud has processed more than $80 billion in payments and facilitated transfers to more than 180 countries around the world.

Currencycloud firmly believes embedded finance is the future, and that every financial services company will eventually be a fintech company. The expert team at Currencycloud is there for firms who are struggling to find a cross-border payment solution for their clients or modernise their payment infrastructure.

If you haven’t heard of ‘The Currency Cloud’ you’re sure to recognise some of the digital banks and money transfer companies it powers.

What does Currencycloud do? In Detail

Currencycloud’s tech is built around one clear goal; making it easier to send and receive international transfers. Currencycloud gives banks, fintechs and payment providers from all over the world the capability to move money across borders, and transact globally in multiple currencies. They’re improving the adoption of digital wallets and can help corporates embed finance into the core of their business – no matter what industry they’re in. Clients simply ‘plug in’ (i.e. develop their software to integrate with Currencycloud’s APIs) and they’re off. Currencycloud takes care of all the complexity of multi-currency cross-border business on their behalf (including all regulatory obligations, payment reconciliation and banking relationships). Wholesale exchange rates are available in hundreds of currency pairs, all via modern APIs.

Currencycloud APIs are categorised into six main categories:


The convert API covers all aspects relating to changing one currency to another. Highlights include:

  • Hundreds of currency pairs available
  • 24/7 trading capabilities (weekend trading utilises the same APIs used during weekdays)
  • Spot FX and forward contracts available up to a year (forward contracts for longer than a year are available through the likes of moneycorp and WorldFirst for businesses)
  • Track and manage conversions, including cancelling and changing currency conversions which are planned for the future


Currencycloud’s ‘Collect’ API makes it easy for international businesses to provide a simple, secure and low-cost way to receive money. Key features of the product include:

  • Leverage local accounts in the UK, EU, USA & Canada to speed up the collections process
  • Receive 34 currencies from 57 countries
  • Receive money via SWIFT and local payment networks in GBP (Faster payments/BACS/CHAPS), EUR (SEPA) & USD (ACH/Fedwire/CHIPS)
  • ACH Pull – receive money in 3 days in the US


Pay enables businesses to move money globally with optimal efficiency. Features include:

  • Choose from local payment options or international payment networks like SWIFT
  • Control the journey, including; automation, fee share, payment tracking and payout currencies.
  • Pay via SWIFT, Faster Payments, SEPA, SWIFT and more when available
  • Send 37 currencies to 180+ countries
  • No hidden fees
  • 40% of Currencloud transfers land within 5 minutes and most payments complete in 1-2 hours


Currencycloud makes it easy for businesses to manage the FX tools they offer their clients. Businesses can change pricing, direct money, track transactions, move funds, and view reports with the touch of a button. Features include:

  • Setting up payment limits, 2FA and dual-authorisation capabilities for specific customers
  • Export via CSV with up to 200,000 lines of data
  • Apply tiers for easy configuration of exchange rate markup
  • Provide customers with their own named accounts


Currencycloud Spark allows businesses to offer a complete international banking experience. Spark works in the background, whilst integrators own the customer relationship and user experience.

Spark is a complete integration of all of the above API endpoints. Offering one integration for multi-currency accounts, receivables, clearing, currency conversion, and payments.


Ignite is designed for start-ups wanting to get to market fast. In addition to FX payment and collection integration, businesses gain access to ‘The Bold Academy’ – a series of programs aimed at helping ambitious businesses with strategic and marketing support. Customers can also leverage Currencycloud partners for beneficial deals on AML and KYC software to kickstart their compliance division.

Who Uses Currencycloud?

Some of the most successful fintechs in the world are powered by Currencycloud, as well as a number of currency brokers that we review here on MoneyTransferComparison.

Send Payments, previously known as SendFX, is an up and coming Australian money transfer services, and its our #1 best rated money transfer service in Australia. Send offers a friendly service, top of the line trading system (Currency Cloud based, of course), and very strong reputation and user acceptance with 99% positive feedback.

In total, Currencycloud enables over 500 businesses to offer currency solutions to their clients. See a list of the most well-known providers below.

Banks (Both traditional and digital)

FX Brokers / Money Transfer Companies

I use a Payment Provider that’s Powered by Currencycloud – Is That a Good Thing?

Generally, yes. Currencycloud has processed billions of dollars in international transfers and is trusted by some of the most successful fintechs in the world. Currencycloud is a market leader in the provision of B2B FX solutions.

However, the fact that a company uses Currencloud doesn’t automatically make it a sure-fire bet that’s safe & secure. Ultimately, the company you opt for is responsible for handling your money and dealing with you, the client. Be sure to always do your due diligence and ensure you work with a credible and trustworthy payment provider.

There could also be possible drawbacks – any technology outages or errors could be down to Currencycloud, or how the provider has integrated with Currencycloud. Meaning, if errors occur, it may not be in your provider’s hands to fix it. You’re relying on the strength of relationship you have with your payment provider and the strength of relationship your provider has with Currencycloud, in order to get things solved. The Visa Currencycloud acquisition is also a big moment in the firm’s history – whether it can continue with the same level of independence and quick action associated with a fintech company remains to be seen – things could slow down as it integrates with a gigantic organisation like Visa.

Currency Cloud Review Summary

Currencycloud (full name The Currency Cloud Limited) has been offering B2B FX solutions since 2012. Their technology powers some of the hottest fintechs in the world. It’s definitely credible and its easy plug-and-play functionality has made it a popular choice for small currency brokers too. With a complete payment infrastructure in place, small companies can focus more time on what matters most – clients. The acquisition by Visa of Currencycloud is something to keep an eye on. In a move that should only enhance Currencycloud’s capabilities, the company may start to find greater processes and red tape in its quest for innovation in the world of international payments.