WeSwap makes P2P exchange available in all currencies

Peer-to-peer currency exchange platform WeSwap can now be used in any currency, anywhere in the world. New countries whose currencies are now able to be swapped between the company’s users without going through a Bureau de Change include Argentina, Costa … Continue reading →

Peer-to-peer currency exchange platform WeSwap can now be used in any currency, anywhere in the world.

New countries whose currencies are now able to be swapped between the company’s users without going through a Bureau de Change include Argentina, Costa Rica, Cambodia, Hong Kong and Vietnam.

Before now it had been possible to swap 18 currencies, including British pounds, US dollars and Euros.

The global currencies feature follows the launch of WeSwap’s rate tracker, which allows users to see live rates for any swappable currency and how it has been performing in the last 30 days.

WeSwap’s chief executive and founder Jared Jesner said: “We’re extremely proud and excited to be able to support travellers on even more adventures abroad with this release. We’re building WeSwap to make spending money on holiday better for everyone, and this is just one of a range of new features we’re looking at this year which will help everyone spend smarter when they explore the unknown.”

Another new feature is that users’ home balance can be used to spend anywhere in the world and converted instantly. WeSwappers can either load in pounds and go, or swap in advance for more competitive rates.

WeSwap’s data shows the typical UK traveller is expecting to spend £821 during trips abroad in 2018, up from £726 per person across the year in 2017.

Also in development is WeSwap’s budget planner tool – leveraged on community-sourced data – designed to be used by companies to make travel expenses easier to manage.

An £8m series B funding round is set to be concluded this year and WeSwap says £130m in currency has been traded since 2015among nearly 400,000 users worldwide.

The £8m will be spent on WeSwap’s upcoming product launches and expansion into the Asian market.