Global international trade firm Travelex formally launched onshore wholesale banknote operations in Canada at this time, twenty first October.
The introduction of such operations marks a major milestone in the corporate’s world growth technique.
Travelex Currency Exchange Canada Limited will present worldwide banknote providers to monetary establishments and cash providers companies (MSBs) throughout the nation.
A registered MSB, Travelex Currency Exchange Canada Limited has already onboarded over 20 Canadian retail financial institution and non-bank clients, together with retail forex trade suppliers Interchange Financial.
Interchange Financial COO Sam Karkhanechi stated: “We’ve been operating in the FX banknote sector for over 20 years, and are delighted to be working with Travelex as our trusted partner and primary supplier for international foreign banknotes. Travelex’s global reach, reliability and best-in-class service continues to set the standard in our industry.”
A brand new service
As an onshore service, Travelex will run a neighborhood vault operation in Toronto, the location beforehand occupied by Exchange Bank of Canada.
This extends Travelex’s community of worldwide vaults to 13 websites, together with in London, Sydney, Hong Kong and the UAE.
According to Travelex world wholesale director Cameron Hume: “With practically 25 years of expertise in wholesale banknote operations, Travelex enters the Canadian market with our gold customary strategy, combining a market-leading regulatory framework, best-in-class world infrastructure and unrivalled trade experience. I’m delighted we will assist and accomplice with organisations of all sizes in the market as we proceed to serve our clients with reliability and velocity.
Travelex’s Canadian wholesale providing shall be led by Davish Bucktowar, who joins Travelex as Canada buying and selling director and is predicated in Toronto.
Bucktowar beforehand served at Exchange Bank of Canada as Senior Director of Financial Institutions, the place he was liable for the financial institution’s tailor-made banknote options.
Hume added: “I am pleased to welcome Davish to Travelex. His local market knowledge, insights and proven leadership is invaluable to our operations as we mobilise and deliver outstanding service to our customers in the market.”
