Azimo Welcomes Facebook Libra

Azimo, a leading European digital money transfer service, welcomes the launch of Facebook’s Libra currency.

Michael Kent, CEO of Azimo, said: “Facebook’s foray into cryptocurrency is another wave of FinTech breaking into traditional finance and shaking up the industry. Hopefully this will  inspire other big tech titans such as Apple, Google and Alibaba to move faster in this area and to provide better financial services for consumes around the world, especially those underserved in emerging markets. Azimo is already plugged into many local and regional payment networks and we look forward to seeing how Libra develops and working on the rails if and when they get operational.”

Azimo continues to grow its share of the $600 billion global cross-border payments market, having built an unrivalled global platform that enables payments in more than 80 currencies to more than 200 receiving countries.  The company now reaches more than 5 billion potential customers via a wide variety of payout methods, including cash, bank deposits and mobile wallets.

Azimo advantages in speed, price and ease of use have led to sustained top-line growth above 100% year-on-year. The service now has more than 1.5 million registered customers and well over $1 billion in annualised sending volume.