UAE: Wall Street Exchange (WSE), a subsidiary of FINTX which is the financial arm of Dubai-based 7X, has entered into a strategic partnership agreement with global money movement firm TerraPay to enable cross-border payments.

The two entities teamed up to drive efficiency, reliability, and affordability in international money transfers while promoting financial inclusion, according to a press release.

The collaboration aims to broaden Wall Street Exchange’s payment channels through TerraPay’s network, which has more than 144 receiving and above 210 sending countries in addition to over 3.70 billion mobile wallets, 7.50 billion bank accounts, and more than 12 billion cards.

Acting CEO of Wall Street Exchange, Malaz Mubaid, said: “By integrating TerraPay’s advanced platform with our systems, we are able to enhance our offerings and streamline international transfers, providing individuals and businesses with a more efficient and reliable experience.”

Mubaid added: “This collaboration is a strategic step in advancing financial inclusivity and adapting to the shifting expectations within the remittance landscape.”

The partnership will boost leveraging TerraPay’s remittance network worldwide as well as its cutting-edge technology.

Meanwhile, Wall Street Exchange aims to expand its footprint to new destinations while fast-tracking its services.

The two sides further work towards creating a more inclusive and interconnected financial ecosystem globally.

President and Global Head of Remittances at TerraPay, Sudhesh Giriyan, noted: “This partnership reflects our shared commitment to improving financial accessibility and empowering underserved communities, helping bridge the gap in the global remittance landscape."

Earlier in December 2024, 7X joined forces with SC Ventures to boost regional SMEs.

During the leading Seamless Saudi Arabia 2024 event, which took place in Riyadh this year, 7X showcased the latest developments in the logistics and financial services sectors in the UAE.

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