Latest news with #Thunes
Yahoo
5 days ago
- Business
- Yahoo
Thunes obtains money transmission licences in US
Singapore-based payments network Thunes has secured 50 regulatory licences to operate in the US. The licences, secured via the firm's newly established entity Thunes Financial Services, will enable it to offer its Pay and Accept suite of services directly to US-based corporates, merchants, and digital platforms. With regulatory approvals, Thunes can now contract with American businesses for real-time cross-border payments through its Direct Global Network. The network is claimed to connect over seven billion mobile wallets and bank accounts, alongside 15 billion cards in more than 130 countries, transacting in 80 different currencies. Besides, American members of the network will have the advantage of funding Thunes locally, streamlining the payment process. Thunes Direct Global Network members will gain direct access to the US market through a single integration. With the integration of the SmartX Treasury system, members based in the US will be able to execute real-time payments internationally. Thunes CEO Floris de Kort said: 'At Thunes, we're proud to have built a world-leading payments Network. Securing our U.S. licences marks a significant milestone in our global growth. It's a reflection of the momentum we've created and the trust we continue to earn. We're scaling with purpose and delivering limitless, tangible value to every Member of the Thunes Direct Global Network in the process.' The development follows Thunes' Series D financing round in April, which helped the firm raise $150m. The round was led by Apis Partners and Vitruvian Partners, aiming to support the payments firm's growth initiatives within the US. "Thunes obtains money transmission licences in US " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
6 days ago
- Business
- Finextra
Thunes secures US money transmission licences
Thunes, the Smart Superhighway to move money around the world, today announced it has secured the 50 licenses it requires to operate in the United States. 0 This marks a major milestone following its recent Series D funding round and reinforces Thunes' unwavering commitment to scale at pace and deliver on its strategic roadmap. The acquisition of the licenses by the newly formed Thunes Financial Services LLC entity, is a strategic differentiator in allowing Thunes to deliver its comprehensive Pay and Accept suite of services directly to corporates, merchants and digital platforms across the U.S. By leveraging the new regulatory approvals, Thunes gains the ability to contract directly with American businesses for real-time cross-border payments, via its Direct Global Network, connecting to over 7 billion mobile wallets and bank accounts as well as 15 billion cards in over 130 countries and 80 currencies. In addition, American Members of the Network will now be able to fund Thunes locally. Thunes' U.S. entry also opens new opportunities for Members of its Direct Global Network all around the world, who will now gain direct access to the vast U.S. market through a single, seamless integration. Securing U.S. licenses reinforces Thunes' commitment to building a resilient and compliant global payments infrastructure. It represents a significant investment in strengthening its Fortress Compliance platform, ensuring rigorous adherence to some of the world's most demanding regulatory standards. Combined with Thunes' SmartX Treasury system, U.S.-based Members of the Thunes Direct Global Network will enjoy unmatched speed, transparency, protection, control, and cost efficiency in executing real-time payments in and out of the U.S., globally. Floris de Kort, CEO of Thunes, said: 'At Thunes, we're proud to have built a world-leading payments Network. Securing our U.S. licenses marks a significant milestone in our global growth. It's a reflection of the momentum we've created and the trust we continue to earn. We're scaling with purpose and delivering limitless, tangible value to every Member of the Thunes Direct Global Network in the process.' Chloé Mayenobe, President & Chief Operating Officer at Thunes, commented: 'With our newly obtained U.S. licenses, Thunes is now uniquely positioned to empower businesses across sectors - from travel and social media to digital assets, insurance, and gig economies - to join the world's most robust and reliable cross-border payments network. As Members of the Thunes Direct Global Network, they gain access to real-time payments and unlock new revenue opportunities in the fastest-growing markets worldwide.' Ruwan De Soyza, General Counsel at Thunes, concluded: "Our successful license acquisition in the United States is a pivotal moment for Thunes. It allows us to extend our global footprint while upholding the highest standards of regulatory compliance and transparency. It also reinforces our commitment to managing risk with precision. By enhancing our robust legal and operational foundation, we are further equipping Thunes to responsibly drive innovation in cross-border payments and empower businesses worldwide. I am proud to lead a team dedicated to ensuring every step we take is both legally sound and aligned with our mission for global financial inclusion.'
Korea Herald
6 days ago
- Business
- Korea Herald
Thunes Secures Money Transmission Licenses to Operate in the United States
Bold U.S. entry underscores Thunes' strategic investment and ambition to build the world's most trusted and comprehensive global payments network. SINGAPORE and SAN FRANCISCO, June 4, 2025 /PRNewswire/ -- Thunes, the Smart Superhighway to move money around the world, today announced it has secured the 50 licenses it requires to operate in the United States. This marks a major milestone following its recent Series D funding round and reinforces Thunes' unwavering commitment to scale at pace and deliver on its strategic roadmap. The acquisition of the licenses by the newly formed Thunes Financial Services LLC entity, is a strategic differentiator in allowing Thunes to deliver its comprehensive Pay and Accept suite of services directly to corporates, merchants and digital platforms across the U.S. By leveraging the new regulatory approvals, Thunes gains the ability to contract directly with American businesses for real-time cross-border payments, via its Direct Global Network, connecting to over 7 billion mobile wallets and bank accounts as well as 15 billion cards in over 130 countries and 80 currencies. In addition, American Members of the Network will now be able to fund Thunes locally. Thunes' U.S. entry also opens new opportunities for Members of its Direct Global Network all around the world, who will now gain direct access to the vast U.S. market through a single, seamless integration. Securing U.S. licenses reinforces Thunes' commitment to building a resilient and compliant global payments infrastructure. It represents a significant investment in strengthening its Fortress Compliance platform, ensuring rigorous adherence to some of the world's most demanding regulatory standards. Combined with Thunes' SmartX Treasury system, U.S.-based Members of the Thunes Direct Global Network will enjoy unmatched speed, transparency, protection, control, and cost efficiency in executing real-time payments in and out of the U.S., globally. Floris de Kort, CEO of Thunes, said: "At Thunes, we're proud to have built a world-leading payments Network. Securing our U.S. licenses marks a significant milestone in our global growth. It's a reflection of the momentum we've created and the trust we continue to earn. We're scaling with purpose and delivering limitless, tangible value to every Member of the Thunes Direct Global Network in the process." Chloé Mayenobe, President & Chief Operating Officer at Thunes, commented: "With our newly obtained U.S. licenses, Thunes is now uniquely positioned to empower businesses across sectors – from travel and social media to digital assets, insurance, and gig economies - to join the world's most robust and reliable cross-border payments network. As Members of the Thunes Direct Global Network, they gain access to real-time payments and unlock new revenue opportunities in the fastest-growing markets worldwide." Ruwan De Soyza, General Counsel at Thunes, concluded: "Our successful license acquisition in the United States is a pivotal moment for Thunes. It allows us to extend our global footprint while upholding the highest standards of regulatory compliance and transparency. It also reinforces our commitment to managing risk with precision. By enhancing our robust legal and operational foundation, we are further equipping Thunes to responsibly drive innovation in cross-border payments and empower businesses worldwide. I am proud to lead a team dedicated to ensuring every step we take is both legally sound and aligned with our mission for global financial inclusion."
Finextra
03-06-2025
- Business
- Finextra
Thunes opens Scandinavian corridor
Thunes, the Smart Superhighway to move money around the world, today announced the further expansion of its Direct Global Network with the launch of direct Pay-to-Bank services in Denmark, Norway, and Sweden. 0 This broadens Thunes' reach into the Nordic region, empowering Members of the Thunes Direct Global Network with faster cross-border payments solutions for both consumer and business transactions. The expansion includes the opening of new direct corridors, supporting payouts in Danish Krone (DKK), Norwegian Krone (NOK), and Swedish Krona (SEK). Thunes' proprietary Network expansion will give access to its Members to the Nordic region, whose exports volumes amounted to over USD 600 billion in 2024, and inbound remittance accounted for over USD 5.4 billion in 2023 according to the world bank. Built on a robust API integration the service leverages Thunes SmartX Treasury system and Fortress Compliance platform to provide Members with enhanced speed, control, visibility, protection and cost efficiency for their cross-border payments. Aik Boon Tan, Chief Network Officer at Thunes, said: 'This expansion marks a significant development for Thunes and our Members, reinforcing our commitment to delivering seamless and reliable real-time cross-border payments globally. By extending our proprietary Direct Global Network into the Nordic region, we are offering a modern alternative to legacy systems, ensuring that payments to Denmark, Norway, and Sweden are executed with the highest levels of speed, security, and operational efficiency.' Chloé Mayenobe, President and COO at Thunes, added: 'Launching direct bank payout capabilities in the Nordics supercharges our proprietary Network's reach and unlocks unmatched value for all our Members. By establishing real-time payout corridors in Denmark, Norway and Sweden, we're empowering businesses and individuals with faster, more transparent and cost-efficient transactions. This expansion represents a strategic milestone in our journey to connect every corner of the globe, reinforcing our promise to deliver cutting-edge, reliable global payment solutions.' With this expansion, Thunes delivers an even more robust Direct Global Network that enables seamless bank payouts across the Nordics, meeting the growing demand for real-time, cross-border payment solutions in a dynamically evolving region.
Yahoo
28-04-2025
- Business
- Yahoo
Payments firm Thunes nets $150m in Series D investment
Cross-border payments company Thunes has secured $150m in a Series D financing round, led by private equity firms Apis Partners and Vitruvian Partners. Said to be the largest-ever for the company, this capital injection will help the Singapore-based payments firm expand in the US. The company said that the latest round marks a 'significant valuation increase' over its prior round. This is supported by the company's recent licences across 50 US states, which is currently pending regulatory approval. The investment will also enhance Thunes' Direct Global Network, which spans over 130 countries, supports over 80 currencies, and includes more than 550 direct integrations, enabling real-time payments. Thunes aims to facilitate seamless cross-border payments by making diverse payment systems, including traditional, digital, and emerging currencies, interoperable. With technology and compliance standards, Thunes seeks to be a 'go-to solution' for cross border payments, connecting wallets and partners globally. Proton Partners was the financial advisor for this transaction. Thunes CEO Floris de Kort said: 'Thunes' latest funding round is a clear validation of our strategy and our commitment to sustainable growth. Our performance, marked by a Revenue run-rate of $150 million and positive EBITDA, demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market. 'This new capital enables us to extend our Direct Global Network, including in the United States, drive technological innovation, from Artificial Intelligence to digital asset ecosystem interoperability, and deliver superior value to the Members of our proprietary Network. In a challenging funding environment, our progress and resilience set a new industry standard.' The latest news comes close on the heels of the launch of Thunes Business Payments, a cross-border payment solution that enhances the payment experience for the firm's Direct Global Network members. "Payments firm Thunes nets $150m in Series D investment " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
