“Our belief has always been that payments should be safe, easy, and highly accessible,” said Randolph Pinna, President and CEO of Currency Exchange International (CXI), during a recent announcement in Great Falls, Va.
In a significant move, CXI has joined the Payment Choice Coalition (PCC), an organization dedicated to promoting the bipartisan Payment Choice Act. This coalition aims to raise awareness about the critical role of cash in the payments system.
CXI provides currency exchange services through various channels, including branches, home delivery, and partnerships with over 1,400 U.S. banks and credit unions.
Meanwhile, in a separate development, Acceleron has partnered with Monex to enhance international payments and streamline inbound wire processing. Damon Magnuski, CEO of Acceleron, stated, “This partnership introduces new capabilities our clients haven’t had before, all through a single API.”
This collaboration allows clients to access virtual International Bank Account Numbers (IBANs) and hold funds in multiple currencies, significantly improving cross-border payment efficiency.
Acceleron serves over 200 financial institutions and facilitates more than $1 billion in international payments annually, showcasing its impact in the financial sector.
Monex, which managed US$274 billion in deliverable foreign exchange trades in 2024, has been a key player in the currency exchange market for 40 years. The company employs over 2,800 people globally, further solidifying its position in the industry.
Michael Wilson, Managing Director of Partnerships at Monex, described the partnership with Acceleron as a “turnkey infrastructure for cross-border payments,” emphasizing the innovative solutions being introduced.
As these developments unfold, the focus remains on enhancing the accessibility and safety of payment solutions for consumers and businesses alike.
Details remain unconfirmed regarding the broader implications of these partnerships on the currency exchange landscape.
