FinTech Airwallex, Plum Partner to Offer Stock Investing

Global FinTech platform Airwallex has partnered with investing app Plum to support its cross-border payments and foreign exchange (FX) needs, according to a Thursday (March 3) press release.

Airwallex said it was chosen as Plum’s global payments and FX partner to support the launch of Plum’s new stock investing feature. The tool will allow for its customers to trade in more than 500 U.S. stocks across tech brands and options, including major Fortune 500 businesses, the companies said.

By integrating Airwallex with Plum’s tool, investors can collect, hold and convert funds in multiple currencies, the companies added.

“How a person manages their wealth is key to their financial success, and Plum has identified an innovative way to help achieve that,” said Jed Rose, general manager at Airwallex, in a statement. “Our global financial infrastructure aims to empower businesses just like Plum, enabling them to operate anytime and anywhere.”

Founded in 2015, Airwallex calls itself one of the fastest-growing FinTech companies operating in the Asia-Pacific, Europe and North America. The company said it has more than 1,000 employees in 19 branches globally.

Last year, Airwallex reported it raised a total of $400 million, more than doubling its valuation to $5.5 billion.

In February, Airwallex introduced its borderless card, a virtual card issued by the Community Federal Savings Bank, which allows businesses to make cross-border digital card payments.

Read more: FinTech Airwallex Debuts Multicurrency Virtual Business Cards in US

Airwallex said its U.S. customers will be able to generate and issue multicurrency virtual payment cards that can be used to pay vendors or online merchants.

The card will let U.S. companies transact in over 140 countries, allowing them to expand more easily into new markets because of the ease of payment. And the single- and multiuse card capabilities can improve security, control and visibility.

The company also plans to expand the card functionality and offer physical multicurrency payment cards for business owners and for employee work expenses.