Singaporean fintech firm sets up operations in Edinburgh

TranSwap, a cross-border payment platform based in Singapore, has based its first UK office in Edinburgh.

The new global research and development (R&D) centre is expected to create 54 jobs over the next three years, including machine learning engineers, full-stack developers and product owners to support the firm’s market expansion plans.

Launched in 2017 with the aim to become a global e-money institution, this is TranSwap’s fifth market after Singapore, Hong Kong, Indonesia and Malaysia.

Its technology platform adopts artificial intelligence techniques to help businesses to move money in 180 countries and 120 currencies.

Supported by global banking partnerships, TranSwap’s product range includes digital wallets, collections, trade finance and foreign exchange hedging.

Co-founder and chief executive Benjamin Wong said: “The UK has been on the cards for years, as it is one of the world’s leading financial centres and remains a source of global economic development.”

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Source: Singaporean fintech firm sets up operations in Edinburgh – Business Insider