- TranSwap, which is based in Singapore but operates in a variety of key markets across the globe, will now open an office at the University of Edinburgh.
- The office is expected to create more than 50 jobs, and will be focused in part on research and development.
- A leading figure at TranSwap confirmed that the move to the UK had been on the cards for a long time due to the country’s status as a major stimulant to growth.
A leading online money transfer company from Singapore has announced a new push into the UK market by opening an office in the Scottish capital Edinburgh.
TranSwap said that it would create around 54 jobs in the city, which is considered to be one of the UK’s biggest financial market centres after London.
TranSwap will site its worldwide research and development headquarters in the office, which will be located at the University of Edinburgh’s Bayes Centre.
The office is currently hunting for professionals who have skills such as full stack development and product ownership.
It has already appointed a director and country lead in the form of Grant McKenzie, who said that he was “excited” to be in charge.
The move is a significant one for the company, and comes after it opened up in markets such as Indonesia and Hong Kong.
A senior figure at the company expressed a positive outlook for the firm’s expansion plans.
Benjamin Wong, who co-founded the company and also serves as its chief executive, pointed out that Britain is responsible for a chunk of the world’s economic growth.
“UK has been on the cards for years as it is one of the world’s leading financial centres and remains a source of global economic development,” he said.
Interestingly, he went on to label Britain as a way of accessing the European market – even despite the recent Brexit settlement, which saw the UK part ways with the bloc.
“Besides serving as a strategic gateway into Europe, the UK is also a highly sought-after investment destination for businesses,” he said.
“It has a vibrant, entrepreneurial FinTech sector and businesses play a vital role in the country’s economic growth and sustainability.”
He also claimed that the rise in financial technology, such as that offered by his firm, could make all the difference when it comes to helping companies operate better on an international level.
“Now, with FinTech as a game-changer in streamlining cross-border payments, businesses have the opportunity to overcome the barriers to internationalisation and enter new markets through improved payment options,” he said.
TranSwap was first set up in 2017 and operates in 180 nations around the world.
It works in fields such as machine learning.
Its ultimate aim is to become regulated and used in every major financial setting across the world.
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