Global payments provider Sokin has expanded into Brazil with the launch of its inclusive Global Currency Account and pre-paid debit card.
Founded in 2019, the London-based FinTech makes moving and managing money across borders cheaper, transparent, and convenient. Sokin said its entry into the Brazilian market will better serve the country’s residents and growing expat community.
Sokin describes itself as the first payments platform to take on the subscription model – like Spotify and Netflix – which allows consumers to receive and send unlimited money transfers and access cost-effective currency exchange in 38 currencies, such as Real, Dollar, Euro to over 200 countries and territories for one fixed monthly fee. Its pre-paid debit card is powered by Mastercard.
Sokin’s customers are also not required to open a new bank account when they move into a new country. Instead, customers can have their salaries paid into their Sokin a ccount and use it for all their day-to-day payment needs through the app and the pre-paid card.
Vroon Modgill, CEO at Sokin said, “Our global payments solution is accessible to everyone – no matter their geographical location, circumstances, or migration movements – and we have worked hard to ensure the Global Currency Account is a tool which empowers, not hinders, the entire Brazilian community.
“By doing so, we have created a digital wallet which is an alternative to traditional banking services; and one which is truly inclusive and accommodates Brazil’s growing expat and migrant community by removing the barriers which prevent people accessing critical financial services and achieving their economic potential.”
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