Singapore-Based FinTech Firm TranSwap Expands into The UK With Plans to Open New R&D Centre

SINGAPORE – Media OutReach – 3 February 2021 – TranSwap, a home-grown cross-border payment platform, has
officially launched in the United Kingdom. This expansion further strengthens
TranSwap’s position as one of the leading fintech firms in Asia Pacific and
beyond, as part of its efforts to empower global business growth with a secure,
cost-effective and convenient cross-border payment solution.

Since TranSwap launched in 2017, they have
established a strong presence in Asia Pacific with offices in Singapore, Hong
Kong, Indonesia and Malaysia. The UK is a pivotal market to accelerate
TranSwap’s next phase of expansion.

Benjamin Wong, co-founder and CEO of TranSwap, said, “UK has been on the cards for years as it is one
of the world’s leading financial centres and a source of global economic
development. Not only is it a gateway into Europe, but it is also a
sought-after investment destination for businesses who are instrumental in the
country’s economic growth. Now with fintech as a game-changer in streamlining
cross-border payments, businesses can gain access to international markets
through improved payment options and TranSwap seeks to simplify the traditional
cross-border payment process for them. It is more crucial than ever to support
global trade and help combat the economic consequences of the Covid-19 pandemic.”

Grant McKenzie, who will spearhead the firm’s
operations in the UK as Director & UK Country Head, said, “TranSwap is well-poised for continued growth and
I am excited to lead their UK operations.  Much like with other countries, businesses in
the UK are the backbone of the economy and there is a pressing need to make
overseas payments more efficient and cost-effective for them to internationalise.
Covid-19 has created unprecedented challenges for economies and the knock-on
effects of the pandemic have urged businesses to evaluate alternatives to
unlock cash flow and ensure business continuity. By providing them with a
cost-effective cross-border payment solution, we hope to help them through
improved access to financial services.”

Based in Edinburgh, TranSwap aims to open a global
R&D centre at the University of Edinburgh’s Bayes Centre to create a talent
pipeline for local graduates and post-graduates to enter the FinTech market. TranSwap
will create 54 jobs over the next three years, including Machine Learning
Engineers and Full-Stack Developers roles to support their market expansion and
R&D plans.

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