Kantox, a fintech company offering FX management solutions, has announced that it has processed $100 million worth of transactions in just six months through the company’s unique API, taking the company’s total transaction volume to over $3.2 billion since its launch in 2011.
Finance Magnates last reported on Kantox back in September, 2015 when the company reached over $2 billion in total transactions on its platform.
Kantox, which launched its API beta in late 2015, provides online hedging and risk management services in 34 currencies across 103 countries. With global economic volatility on the increase, strict FX management is vital to ensuring the stability of international enterprises.
Kantox delivers added value by offering headache-free automation of currency management and execution of customised FX rate hedging strategies.
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Firms that need to frequently manage their FX exposure or process a high volume of international payments can integrate Kantox API with their enterprise resource planning (ERP) software or treasury management system (TMS) to automate each and every one of their transactions.
This integration provides benefits not only in terms of efficiency, with fewer hours spent on low-value-added tasks, but also by eliminating the mistakes that commonly occur when data is entered manually.
Philippe Gelis, co-founder and CEO of Kantox, explained: “Kantox delivers genuine added value by offering finance departments headache-free automation of currency management and execution of customised FX rate hedging strategies”.
Following its successful beta launch, Kantox is now set to release the API to its customer base of over 2,000 small, mid-cap and large enterprises who will have access to the full range of services available via the API.
These include spot and forward transactions, market orders, international payments, and the recently-launched Payments Hub, through which clients can make one sole transfer in a single currency to Kantox and have funds dispatched to numerous beneficiaries in multiple currencies.