SINGAPORE - Media OutReach - 3 February 2021 - TranSwap, a home-grown cross-border payment platform, hasofficially launched in the United Kingdom. This expansion further strengthensTranSwap's position as one of the leading fintech firms in Asia Pacific andbeyond, as part of its efforts to empower global business growth with a secure,cost-effective and convenient cross-border payment solution.

Since TranSwap launched in 2017, they haveestablished a strong presence in Asia Pacific with offices in Singapore, HongKong, Indonesia and Malaysia. The UK is a pivotal market to accelerateTranSwap's next phase of expansion.

Benjamin Wong, co-founder and CEO of TranSwap, said, "UK has been on the cards for years as it is oneof the world's leading financial centres and a source of global economicdevelopment. Not only is it a gateway into Europe, but it is also asought-after investment destination for businesses who are instrumental in thecountry's economic growth. Now with fintech as a game-changer in streamliningcross-border payments, businesses can gain access to international marketsthrough improved payment options and TranSwap seeks to simplify the traditionalcross-border payment process for them. It is more crucial than ever to supportglobal trade and help combat the economic consequences of the Covid-19 pandemic."

Grant McKenzie, who will spearhead the firm'soperations in the UK as Director & UK Country Head, said, "TranSwap is well-poised for continued growth andI am excited to lead their UK operations.  Much like with other countries, businesses inthe UK are the backbone of the economy and there is a pressing need to makeoverseas payments more efficient and cost-effective for them to internationalise.Covid-19 has created unprecedented challenges for economies and the knock-oneffects of the pandemic have urged businesses to evaluate alternatives tounlock cash flow and ensure business continuity. By providing them with acost-effective cross-border payment solution, we hope to help them throughimproved access to financial services."

Based in Edinburgh, TranSwap aims to open a globalR&D centre at the University of Edinburgh's Bayes Centre to create a talentpipeline for local graduates and post-graduates to enter the FinTech market. TranSwapwill create 54 jobs over the next three years, including Machine LearningEngineers and Full-Stack Developers roles to support their market expansion andR&D plans.

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