AbbeyCross , a platform aimed at enhancing connectivity and access in global foreign exchange payments, has announced that Wise Platform is now part of the ABX Platform. Wise Platform, an infrastructure developed by Wise for facilitating international payments, offers banks, financial institutions, and global enterprises advanced technology and a network designed to ensure fast, secure, and cost-effective cross-border transactions.

The infrastructure connects to five payment systems and collaborates with over 90 banking partners globally, supporting transactions in more than 40 currencies across over 160 countries. Expanding FX payment options By integrating with the ABX Platform, Wise Platform will provide AbbeyCross users with access to faster and more transparent FX payment rates, including those for emerging markets, as well as a streamlined settlement process. The ABX Platform offers banking and money service business (MSB) clients access to multiple FX payment providers through a single integration.

This approach contrasts with the traditional bilateral connectivity model, which limits options to single providers. The platform aims to deliver competitive services and clear FX rates. AbbeyCross focuses on improving the FX payments market infrastructure by collaborating with global banks, MSBs, and Real-Time Payment (RTP) providers.

It aims to lower integration barriers, address compliance and continuity risks, and provide greater price transparency in a fragmented and inefficient FX payments industry. Representatives from AbbeyCross commented that Wise Platform's involvement as a founding payment partner will enhance the choice, price transparency, and overall payment settlement experience for global banks and MSBs using the ABX Platform. Officials from Wise Platform noted that the partnership aligns with Wise's mission to improve the speed, cost, and transparency of financial transactions.

They expressed enthusiasm about the collaboration, which aims to modernise global financial payments, particularly in emerging markets, by leveraging Wise’s global payments infrastructure to enhance cross-border money transfers. Source: Link .