Crown Agents Bank has announced a partnership with AbbeyCross to provide FX payments for emerging markets via the ABX platform. The platform offers single integration to wholesale market participants like Money Services Business, NGOs, and Charitable Trusts and access to transparent pricing to EM currencies.

The ABX Platform gives the opportunity to compare multiple rates and service providers and the payments providers in return can access a wider pool of potential clients. Crown Agents Bank, a UK-regulated bank, provides AbbeyCross users with convenient rates (EM, FX) and easy access to its global network and cross-border payment solutions. Crown Agents Bank (CAB) specialises in global FX and cross-border payments for hard-to-reach markets and is one of the first banks to join the ABX Platform as a payment provider.

CAB is also known for covering 100+ markets and currencies across 700+ currency pairs. Incorporating reliable financial market transaction technologies, the ABX Platform  is designed to tackle the current challenges encountered by commercial banks, non-governement organisations, and international charities. FX in details In the past, commercial banks faced limited options when dealing with payments in emerging markets, often relying on a single FX rate provider.

As global capital flows evolve, the FX industry is also adapting. The most recent survey conducted by the Bank for International Settlements (BIS) on global FX dealers reveals that trading volumes in emerging market (EM) currencies are on the rise. Additionally, smaller banks were the counterparties for a quarter of the trading volumes reported by the surveyed dealers.

This increase in trading volumes of EM currencies and the significant participation of smaller banks indicate a shift towards a more inclusive and dynamic FX market landscape. It suggests that not only are larger institutions recognising the potential in emerging markets, but smaller players are also capitalising on these opportunities. This democratisation of access to FX markets can lead to more competitive rates and services, reducing the reliance on a single provider and fostering innovation in financial products tailored for these regions.

Moreover, this trend could contribute to greater financial stability and economic growth in emerging markets by enhancing liquidity and providing more diverse funding sources. .