Unit adds cross-border payments capabilities with Currencycloud

Banking-as-a-Service (BaaS) platform Unit is partnering with cross-border money transfer firm Currencycloud.

Currencycloud can now offer its APIs as a joint solution

The tie-up means Unit will be able to offer US-based customers the ability to add capabilities for cross-border payments, access FX and wallets and expand into global markets.

Integration with Currencycloud is meant to accelerate time to market for customers, removing the need to directly build these capabilities.

Unit enables users to build and launch bank accounts, cards, payments and lending products. The firm is based in Tel Aviv and New York and is backed by Accel, Better Tomorrow Ventures, Aleph, Flourish Ventures, TLV Partners, Operator Partners and others.

Itai Damti, Unit CEO and co-founder, says the partnership will allow the company to “better align with our domestic banking providers”.

Unit and Currencycloud can now offer their APIs as a joint solution to their new and existing customers.

Since 2012, London-based Currencycloud claims to have processed more than $100 billion in payments to over 180 countries, working with banks, other financial institutions and fintechs, including Starling Bank, Revolut, Penta and Lunar. Partners include Visa, Dwolla, GPS and Mambu and it is regulated in the UK, Canada, US and the EU.