October 27, 2022

Tonga Development Bank opens up trade for Tonga’s small businesses with Currencycloud partnership

Currencycloud, the experts in simplifying business in a multi-currency world, has been chosen by Tonga Development Bank (TDB) as a partner to help open up frictionless commerce and extend the reach across Oceania and beyond for Tonga’s small medium businesses (SMBs).

By partnering with Currencycloud, Tonga Development Bank can seamlessly settle and clear a wide range of currencies for their SMB customers. Tonga’s businesses trading in Australian, US and New Zealand dollars, Japanese Yen, and Euros now have access to Currencycloud’s market-leading low FX rates, making exporting and importing goods and services across the region much more cost-effective.

The partnership with Currencycloud means Tonga Development Bank can use Currencycloud’s international payment rails to open up new global trading opportunities for Tonga’s businesses.

Lolinita Maue, Head of Marketing at Tonga Development Bank says: “Our partnership with Currencycloud exemplifies our motto: ‘HA’AMO 2 MO E TONGA, Talu mei he 1977. Together we grow – with our Tongan people since 1977. Our partnership delivers technology and digital connectivity to Tonga’s SMBs. We are able to open up a new revenue stream for the bank while practicing financial inclusion. By enabling small businesses to have access to digital payments, they can access more markets across Oceania and beyond. Thanks to the partnership, our Tongan business customers can enjoy a safe, quick transfer of funds, helping facilitate the import and export of their goods and services to new and existing markets.”

Rohit Narang, Managing Director, APAC at Currencycloud commented, “Tonga’s businesses have long been advanced by Tonga Development Bank, who are committed to helping them evolve and grow digitally. Now with our real-time, wholesale FX and extensive global network, Currencycloud in partnership with Tonga Development Bank is able to help SMEs expand and operate profitably on a global scale.”

About Currencycloud

Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution.

Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business – no matter what industry they’re in.

Since 2012, Currencycloud has processed more than $100bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Visa, Dwolla, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, US, the EU and Australia, and were acquired by Visa in December 2021.


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