Proxtera has launched the beta version of a multi-currency exchange platform, the Emerging Markets Currency Exchange or EMCX, in partnership with WorldFirst, Liquid Group, Thunes and Wise.
The EMCX digital hub is being trialed by Singapore SMEs trading across Africa and Asia with the Ghanian Cedi and Philippines Peso against the Singapore and US dollar.
SMEs will be able to avail of accurate exchange rates to conduct their cross-border payment settlements in their local currencies and use the WorldFirst Digital Wallet to track and record transactions.
Businesses signing up to the EMCX will also have access to the Proxtera network and its ecosystem of trade, financing other service providers.
Proxtera provides SMEs with wider trade, financing, and digitalisation discoverability through integrations with B2B marketplaces.
Proxtera is a metahub platform where B2B platforms and their small medium enterprises intelligently discover wider trade, financing, and digitalisation.
Proxtera has been established to realise Business Sans Border (BSB), an initiative of Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA).