Travelex commences wholesale banknote operations in Canada

Global international trade firm Travelex formally launched onshore wholesale banknote operations in Canada as we speak, twenty first October.

The introduction of such operations marks a big milestone in the corporate’s international growth technique.

Travelex Currency Exchange Canada Limited will present worldwide banknote companies to monetary establishments and cash companies companies (MSBs) throughout the nation. 

A registered MSB, Travelex Currency Exchange Canada Limited has already onboarded over 20 Canadian retail financial institution and non-bank prospects, together with retail foreign money trade suppliers Interchange Financial.

Interchange Financial COO Sam Karkhanechi mentioned: “We’ve been operating in the FX banknote sector for over 20 years, and are delighted to be working with Travelex as our trusted partner and primary supplier for international foreign banknotes. Travelex’s global reach, reliability and best-in-class service continues to set the standard in our industry.”

A brand new service

As an onshore service, Travelex will run a neighborhood vault operation in Toronto, the positioning beforehand occupied by Exchange Bank of Canada. 

This extends Travelex’s community of world vaults to 13 websites, together with in London, Sydney, Hong Kong and the UAE.

According to Travelex international wholesale director Cameron Hume: “With almost 25 years of expertise in wholesale banknote operations, Travelex enters the Canadian market with our gold commonplace method, combining a market-leading regulatory framework, best-in-class international infrastructure and unrivalled trade experience. I’m delighted we are able to help and associate with organisations of all sizes in the market as we proceed to serve our prospects with reliability and pace.

Travelex’s Canadian wholesale providing will likely be led by Davish Bucktowar, who joins Travelex as Canada buying and selling director and is predicated in Toronto. 

Bucktowar beforehand served at Exchange Bank of Canada as Senior Director of Financial Institutions, the place he was liable for the financial institution’s tailor-made banknote options.

Hume added: “I am pleased to welcome Davish to Travelex. His local market knowledge, insights and proven leadership is invaluable to our operations as we mobilise and deliver outstanding service to our customers in the market.”