Payments giant Visa has agreed to buy global foreign exchange platform Currencycloud.
Currency cloud offers ForEx services to banks and FinTechs.
Visa and Currencycloud have worked closely together since 2019.
Currencycloud would keep its team and London headquarters as is.
What does this mean?
Visa already owns some equity in Currencycloud following the FinTech’s Series E round which brought in $80mn. The pair will extend their existing partnership – and if the deal goes through, Currencycloud could be valued at £700mn.