Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

E-wallet firm signs deal with global forex platform

Disclaimer: The text below is a press release that was not written by
Avertissement : Le texte ci-dessous est un communiqué de presse qui n'a pas été rédigé par

E-wallet provider STICPAY is signing a partnership agreement with CWG Markets, a leading financial platform trading provider.

The deal expands the choice for CWG’s customers to deposit and withdraw funds and conduct forex trades with STICPAY’s e-wallet services.

The e-wallet gives faster transfer payments than international bank transfers and users only pay deposit and withdrawal fees, with transfer fees covered by the merchant.

Forex trading, primarily corporate brokers, was 40% up in 2020 in day-to-day trading volume compared to the past decade. Additionally, retail forex (individuals) trading has grown owing to the high degree of accessibility of the sector and the need to generate alternative sources of income through the pandemic.
This latest deal is another step for London-based STICPAY in building-up its established customer base across European and Asian markets including Japan, China, Indonesia, the Philippines and Thailand. The fintech firm currently offers 33 wallets for both local fiat and crypto currencies, which include payment methods such as Visa and Mastercard, bank wire and local bank wire transfer in Asian countries.
CWG Markets provides international securities, contracts for differences (CFDs), commodities, global indexes, and other financial derivatives trading for global traders.

CWG Markets says: “STICPAY’s e-wallet will give our clients another fast and cost-effective way to transfer money while keeping the security they naturally expect. The deal will help improve our users’ experience, whether they are retail, forex traders, or corporate brokers.”

STICPAY’s client service director James Bay says: “The partnership with CWG illustrates the trust leading global financial firms place in our delivery of payment services for their brand and customer base.”

Founded in 2018, STICPAY is a London-based fintech company that serves customers in over 190 countries with a global e-wallet service. With a Year-Over-Year growth of 300%, STICPAY has a strong presence in Asia. Due to the firm’s partnerships with domestic financial institutions, STICPAY offers the option for customers in seven Asian countries to top-up and withdraw funds rapidly and cost-efficiently using the local bank wire service.
While featuring advanced security and anti-fraud measures, the company recently redesigned its mobile apps for iOS and Android, allowing customers to enjoy the full STICPAY experience at the convenience of their smartphones. Along with eCommerce, the company considers the forex industry as one of its top markets for merchants.

About CWG Markets
CWG MARKETS LTD is a leading global financial product online trading provider. The tradable products include foreign exchange, precious metals, stock indices, commodity futures. CWG provides opportunities for traders in the world's largest and most liquid markets by providing innovative trading tools, award-winning technology and a deep pool of liquidity and delivers the best online trading experience to ensure traders' success in the marketplace.

Mardi 30 Mars 2021