Customer's original fiat currency is debited from the bank account and converted into its digital equivalent via the relevant digital fiat issuer.
2
The original digital fiat currency is then traded for the target digital fiat currency on the FXPLACE exchange.
3
The customer’s target digital fiat currency is converted to its corresponding fiat via the relevant digital fiat issuer.
4
Target fiat currency is credited directly to the customer’s bank account.
Compared to traditional FX methodologies, FXPLACE is:
Simpler: Say goodbye to the hassles and headaches of treating your treasury planning like a game of chess. Our centralized exchange gives you access to 24/7 deliverable FX – even on weekends and holidays, with no recognition of borders or time zones.
Faster: If you go through the convoluted interbank market network, FX transactions take at least 2 days to settle. FXPLACE leverages local real-time payment rails and blockchain technology for instant currency settlement.
Cheaper: Price discrimination is rampant in traditional FX. Unless you’re a big hedge fund, you can typically expect dramatic markups. By leveraging a centralized competitive market design and blockchain-based digital fiat, FXPLACE is able to offer the best FX pricing on the market.
Benefits
FXPLACE is a low-cost real-time deliverable foreign exchange platform for commercial users such as Payment service providers and Neobanks
Simplify your FX treasury operations
Real-time settlement eliminates the need to factor transaction times into your treasury planning.
Instant settlement
Traditional FX transactions take at least 2 days to settle. FXPLACE utilizes blockchain technology to facilitate real-time currency settlement.
Lowest cost FX
Payment service providers and neobanks often experience FX price discrimination. FXPLACE offers the lowest cost deliverable FX transactions.
FXPLACE consists of a core team and a global network with a shared vision for global finance
Ilya Zusman
CEO
Ilya’s background includes crypto product development at Lightnet, and emerging markets (incl FX) structuring & trading at Goldman Sachs. He holds an MBA from MIT Sloan.
Peter Zachariades
Head of Regulations & Legal
Peter’s background includes positions in legal and finance in the City of London, dealing with the full range of compliance and regulatory issues around trading. He holds an EMBA from LBS and an LLM from UCL.
Fredrik Samanta
CMO
Fredrik’s experience includes cofounding and running JayCut (acquired by Blackberry) and CMO roles in e-commerce and gaming. He holds an MBA from LBS and an MSc EE from the Royal Institute of Technology (KTH).
Mikhail Zislis
Head of Engineering
Mikhail is a “Ninja” developer with 30 years of experience. He previously worked on many engineering projects in traditional finance and on blockchain-focused projects since 2017. He attended Bauman Moscow State Technical University
Contact us
FXPLACE is a low-cost real-time deliverable foreign exchange platform for commercial users such as Payment Service Providers
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