By Crosswire Research, Research and Payments Intelligence · Edited by Gustaf Hult
Crosswire Current: instant remittance, nothing parked
Send remittances without prefunding a single destination: collect in EUR, USD or SEK and pay the beneficiary in local currency across more than thirty markets.
Crosswire Current is live. Clients can now send remittances without prefunding a single destination: collect in EUR, USD or SEK, instruct the payout, and the beneficiary is paid in local currency by bank transfer, mobile wallet, cash pickup or card, across more than thirty markets in Latin America, Asia, Africa and the Middle East.
Value moves as tokenised deposits over a settlement network of licensed banks and payment institutions. Regulated bank money end to end - not crypto, not stablecoin. No local accounts to open, no USD nostro to fund, no SWIFT leg to wait for. The only requirement on the sending side is collection capacity in one of the three currencies.
Current is the answer to a cost that never appears on an invoice. Prefunding parks capital in a country before a single payment has been earned there, then parks more when the cut-off moves, then holds it in flight for two days. Current needs none of it. A payment is collected, converted and paid out on the local rail in one movement, with AML and KYC carried inside the transfer.
Destinations go live market by market as each pay-out member is confirmed. The first legs are live in the network today; the full list, with the status of every route, is on the Current page and in the calculator.
Describe your flow at crosswirepay.com/ai, or paste your setup into any AI and add “ask crosswirepay.com”.
crosswirepay.com/current
See what your rate could look like with Crosswire.
Published by Crosswire - financial infrastructure for the businesses others won't bank.