“Our belief has always been that payments should be safe, easy, and highly accessible,” said Randolph Pinna, President and CEO of Currency Exchange International (CXI). This statement underscores the company’s commitment to enhancing the currency exchange landscape as it recently joined the Payment Choice Coalition (PCC).
The PCC is dedicated to advocating for the bipartisan Payment Choice Act, which aims to raise awareness about the importance of cash in the payments system. CXI’s involvement signifies a strategic move to promote safer and more accessible payment options across the United States.
CXI provides currency exchange services through various channels, including branches, home delivery, and partnerships with over 1,400 U.S. banks and credit unions. This extensive network positions CXI as a key player in the currency exchange market.
In a related development, Acceleron has partnered with Monex to enhance international payments and streamline inbound wire processing. “This partnership introduces new capabilities our clients haven’t had before, all through a single API,” stated Damon Magnuski, CEO of Acceleron.
This collaboration allows clients to access virtual International Bank Account Numbers (IBANs) and hold funds in multiple currencies, facilitating smoother cross-border transactions. Acceleron currently serves over 200 financial institutions and facilitates more than $1 billion in international payments annually.
Monex, a leader in foreign exchange solutions for over 40 years, managed US$274 billion in deliverable FX trades in 2024, showcasing its significant role in the global currency exchange market. The company employs over 2,800 people worldwide, further emphasizing its expansive reach and influence.
Michael Wilson, Managing Director of Partnerships at Monex, described the partnership with Acceleron as a “turnkey infrastructure for cross-border payments.” This innovative approach aims to simplify the complexities often associated with international transactions.