Comment on TransferWise wants to be the Skype of currency exchange by Will Neobanks Emerge as the Future of Finance? - Coiner Blog

TransferWise wants to be the Skype of currency exchangeTransferWise launches its online currency exchange today, which hopes to give the banks a run for their money, along with disrupting the consumer-end of the money exchange market as a whole. The headline proposition is that the platform gives anyone access to the same mid-market exchange rates that banks get on their interbank market, with TransferWise charging a flat fee of £1 for each transaction regardless of the amount being exchanged. That’s potentially a big deal.But what’s equally notable is the company’s founders, which includes Skype employee number one Taavet Hinrikus.He spent 7 years at the VoIP company, most recently as Director of Strategy, as well as being an Angel investor in a number of other prominent and upcoming startups including TweetDeck, Mendeley,, and TransferWise’s other founder is Kristo Käärmann who has a direct financial services background with Deloitte and PricewaterhouseCoopers.Naturally, Hinrikus says he wants TransferWise to “do to currency exchange what Skype did to telecommunications.” It’s a ni ...Read more

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