Friday, May 20, 2022
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Xace expands IBAN and SWIFT transaction support

Xace, the UK-based igaming payment provider, has expanded its suite of multi-currency IBANs and SWIFT-supported transactions. 

Alongside its already established GBP and EUR currencies, Xace will now start accepting an additional six different forms of legal tender, such as USD, CHF, CZK, HUF, NOK, and SEK

“The addition of these currencies and IBANs enables us to expand on our footprint in Europe and further afield, giving our gaming clients the freedom to move their money easily cross-border,” stated David Hodkinson, CEO of Xace.

“What’s more, being able to process payments via SWIFT gives our customers the ability to connect to the most important international payment network. This will give options to a vast swathe of our gaming customer base who have been cast-adrift by regular banking institutions.”

The inclusion of additional currencies, Xace highlights, is said to allow for “frictionless” cross-border transactions for the igaming industry. 

In addition, the group has expanded its payment network to include SWIFT, and US-centric ABA, to strengthen the firm’s ability to process transactions for its clients. 

Through integrating SWIFT, customers of Xace will allegedly be able to “easily manage” global multi-currency payments in the SEPA area and speed of the UK’s faster payments. Moreover, companies will be able to transact multiple currencies across a single IBAN account. 

The group’s currency expansion offering follows on from two senior hires of Chief Banking Officer, Andria Evripidou, and igaming investor Julian Buhagiar as Non-Executive Director, to oversee its banking operations and expansion plans.

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