• Cloud-based, full-service platform can be white-labelled by any company
• Wide range of FX solutions available in over 30 currencies
• Enables customers to immediately generate new revenue stream
• Launch comes 3 months after Assure Hedge completed a EUR5m fund raise
Amsterdam, at Money 2020 Europe, September 21, 2021: Irish foreign exchange technology firm Assure Hedge today announces the launch of X Hedge, an out-of-the-box platform that can be white-labelled by any business looking to offer its clients currency solutions.
X Hedge allows businesses to quickly generate new revenue streams. Ready out-of-the box, the cloud-based platform can be provisioned instantly to new customers. These businesses can then, under their brand, start offering currency solutions to their existing clients – simultaneously meeting unmet client needs and adding high-margin revenues.
With X Hedge, Assure Hedge opens up new routes to clients, helping to bridge the risk management gap. A significant proportion of individuals and businesses fail to hedge their currency exposures. For instance, recent research from East & East Partners shows that around 70% of small businesses are not using hedging instruments. The key to addressing this gap is making these services available to clients at the right time and over the right channel, at the point where the risk arises. This will be increasingly possible as a broader range of businesses white-label the X Hedge platform.
Simon Turner, Managing Director at Yoption$, a business set up to help the yacht industry manage currency risk and which acted as beta customer for X Hedge, commented:
“Typically, the lead time for the build of a yacht can be anything from 3 months to 18 months and when the builder’s currency is not the same as the buyer’s, there is significant potential exchange rate risk. X Hedge not only enables us to mitigate our clients’ risks, but to do so with great, intuitive user experience and market-beating rates, way better than any bank or competitor.”
X Hedge offers a broad range of services in multiple currencies. The solution provides alternative banking services, such as wallets and payments, as well as currency solutions, such as spots and forwards, in over 30 different currencies. In addition, because Assure Hedge is an FCA regulated firm, the platform also allows customers to generate term sheets for derivative instruments, such as currency options, and in time will allow additional derivative instruments to be traded directly via the platform. As a result, it can be used by financial firms, such as FX brokers, to extend the range of services they offer to clients.
Fayaz Patel, Founder of Treasury First, an FX broker that also acted as a beta customer, said:
“X Hedge provides Treasury First with a one stop shop that gives our clients access to products that were typically reserved for much larger corporations. With X Hedge, we can provide deliverable spot, forwards and options in a single platform. And with a state-of-the-art technology platform, we can spend more time on building customer relationships and customer service.”
Barry McCarthy, CEO of Assure Hedge, added:
“The launch of X Hedge is a major milestone for the company. Our mission is to provide currency hedging to everyone. With X Hedge we are a step closer to reaching everyone. Now, any company whose clients have FX risks can help those clients to manage these risks as they occur. We provide all of the technology and regulation. For the company, it is just a plug-and-play platform that can be set up in minutes. And the potential for them is considerable, solving a significant pain point for their existing customer base.”
About Assure Hedge
Our mission is to provide currency hedging to everyone. We work with a wide range of financial and non-financial companies, giving them the platform to offer currency risk management services to their customers.
Our solution is simpler and offers more choice. As a technology company, authorised and regulated by the FCA, we can offer a broad range of currency services and we handle all of the complexity so our customers don’t have to.
We build businesses. Our platform enables companies to quickly open up new revenue opportunities, meeting unmet customer needs, and growing customer loyalty.
We are embedded. Our solution can be offered standalone, white-labelled under your brand or seamlessly embedded in your existing offering – whatever makes sense depending on your needs and capabilities.
For more information about our company and solution, or to book a demo of X Hedge, please visit assurehedge.com
High Risk Investment Notice
Trading in leveraged financial instruments such as Options or other financial derivatives, carries a high level of risk and may not be suitable for all investors. Investors who make use of these financial products run the risk of substantial capital losses which may exceed your initial deposit. Assure Hedge (UK) Limited makes no claim or warranty regarding either the appropriateness or suitability of these instruments for your purposes whether commercial or otherwise. Assure Hedge (UK) Limited may provide general commentary or educational material available on its website or otherwise, which is not intended as investment advice. You should carefully consider your financial situation and needs and seek independent advice from a duly authorised financial adviser. Assure Hedge (UK) Limited assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. You should read and understand Assure Hedge (UK) Limited’s Terms and Conditions prior to taking any further action.
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