Travelex commences wholesale banknote operations in Canada
World overseas alternate firm Travelex formally launched onshore wholesale banknote operations in Canada immediately, twenty first October.
The introduction of such operations marks a big milestone within the firm’s international enlargement technique.
Travelex Foreign money Alternate Canada Restricted will present worldwide banknote providers to monetary establishments and cash providers companies (MSBs) throughout the nation.
A registered MSB, Travelex Foreign money Alternate Canada Restricted has already onboarded over 20 Canadian retail financial institution and non-bank prospects, together with retail foreign money alternate suppliers Interchange Monetary.
Interchange Monetary COO Sam Karkhanechi stated: “We’ve been working within the FX banknote sector for over 20 years, and are delighted to be working with Travelex as our trusted companion and first provider for worldwide overseas banknotes. Travelex’s international attain, reliability and best-in-class service continues to set the usual in our business.”
A brand new service
As an onshore service, Travelex will run an area vault operation in Toronto, the location beforehand occupied by Alternate Financial institution of Canada.
This extends Travelex’s community of worldwide vaults to 13 websites, together with in London, Sydney, Hong Kong and the UAE.
In accordance with Travelex international wholesale director Cameron Hume: “With practically 25 years of expertise in wholesale banknote operations, Travelex enters the Canadian market with our gold normal strategy, combining a market-leading regulatory framework, best-in-class international infrastructure and unrivalled business experience. I’m delighted we will help and companion with organisations of all sizes out there as we proceed to serve our prospects with reliability and velocity.
Travelex’s Canadian wholesale providing can be led by Davish Bucktowar, who joins Travelex as Canada buying and selling director and is predicated in Toronto.
Bucktowar beforehand served at Alternate Financial institution of Canada as Senior Director of Monetary Establishments, the place he was accountable for the financial institution’s tailor-made banknote options.
Hume added: “I’m happy to welcome Davish to Travelex. His native market data, insights and confirmed management is invaluable to our operations as we mobilise and ship excellent service to our prospects out there.”