SINGAPORE - Media OutReach - 26 January 2021 - TranSwap, a home-grown cross-border paymentsplatform, has been awarded Outstanding SME Cross-Border FX Platform atFinTech Awards 2020, organised by ET Net Hong Kong.

Held on 11 January 2021, FinTech Awards recognisesfirms for their business innovation and excellence in the financial servicesindustry. TranSwap is one of three awardees in the FX and Payment Solutionscategory -- the second time that TranSwap had won an award for Outstanding SMECross-Border FX Platform following its achievement in 2020.

This marks a momentous milestone for TranSwap, asthe firm whose efforts to drive convenience, efficiency and transparency throughoutthe cross-border payments experience, have been recognised at numerous FinTechawards over the years. TranSwap's recognition comes amidst an evolvinglandscape where a streamlined payments process is set to be a game-changer tohelp SMEs scale internationally with confidence and drive global economicrecovery in a post-Covid-19 world.

Launched in 2015 with the aim to empower globalbusiness growth and help the undeserved sector, TranSwap has transformed thecross-border payments process by simplifying overseas payments and collections.Through its wide network of FX partners and proprietary platform, businessescan fulfil payments to more than 180 countries in over 120 currencies. SMEs canchoose to integrate with TranSwap's API for full automation of multipletransfers, allowing small transfers in large volumes to be credited directly tobeneficiaries' wallets and bank accounts in real-time, thus improvingprocessing speed and optimising settlements. In addition, TranSwap's GlobalBorderless Virtual Account service allows businesses to collect payments in threelocations --  United States, EuropeanUnion and United Kingdom -- convert currencies and send cross-border paymentsglobally.

Mr. Benjamin Wong, co-founder and Chief ExecutiveOfficer of TranSwap, said, "We are humbled and honoured to be recognised at this year'sFinTech Awards. Since TranSwap was established in 2015, we have always strivedto help SMEs solve the pain-points of traditional cross-border payments bystreamlining the fund transfer process. Many businesses today however, stillsuffer from the lack of transparency, complexity, and high transfer andconversion rates, which translate to a cumbersome experience and impede theirability to scale overseas. Together with our wide network of FX partners,TranSwap hopes to continuously serve the evolving needs of our customers andempower individuals and businesses with our cross-border payments solution."

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