Payments Startup Currenxie Targets UK SMEs With Multi-Currency Business Account

Payments Startup Currenxie Targets UK SMEs With Multi-Currency Business Account

Cross-border payments company Currenxie launched a business account offering in the UK this week, positioning itself as an alternative to traditional banks for small and medium-sized enterprises managing international transactions. The timing coincides with mounting pressure on SME margins as tariff-driven supply chain costs squeeze globally-exposed businesses.

The move addresses a specific pain point: SMEs typically rely on their primary banks for international transfers, but Currenxie argues these institutions saddle smaller customers with higher costs and slower processing times compared to specialized fintech alternatives. For finance teams watching every basis point in a volatile trade environment, that friction matters.

Currenxie's pitch centers on its Global Account product, which bundles bank and wallet payments, foreign exchange services, and Visa Business cards into a single multi-currency platform. The company claims its 24-hour FX service and in-house technology stack—built entirely internally rather than licensed—gives it cost advantages it can pass through to customers.

The launch comes as supply chain economics deteriorate. Currenxie cited recent warnings from the Chartered Institute of Procurement and Supply that consumer goods prices are likely to surge in 2026, with more than a fifth of supply chain businesses reporting shipping cost increases exceeding 10%. That's the kind of margin compression that forces CFOs to scrutinize every line item, including treasury operations.

"At Currenxie, we've built our entire payments tech stack in-house," said Sam Coyne, the company's CEO for Europe. "This provides us with full control over our product pipeline and costs allowing us to enhance our support to SMEs and offer seamless payment solutions tailored to client requirements."

The company's argument is straightforward: when tariffs and shipping costs are squeezing margins, businesses need to either find cheaper suppliers in new markets or expand their customer base internationally—both of which require efficient cross-border payment infrastructure. Traditional banks, Currenxie suggests, aren't optimized for the transaction volumes and speed SMEs now require.

The competitive landscape for SME cross-border payments has grown crowded, with established players and fintech challengers all claiming superior economics and faster settlement times. For finance leaders evaluating alternatives, the question isn't whether specialized providers can beat bank pricing—they usually can—but whether the operational risk of moving treasury functions outside the banking relationship is worth the savings.

What's notable here is the timing. Launching a product explicitly designed to help businesses "boost margins where possible to remain competitive" during a period of trade volatility suggests Currenxie sees tariff uncertainty as a customer acquisition opportunity. When economic conditions tighten, finance teams get religion about optimizing previously-ignored cost centers. Cross-border payment fees, historically treated as unavoidable friction, suddenly become worth the hassle of switching providers.

The real test will be whether SME finance teams—already stretched thin—have bandwidth to evaluate and implement new treasury infrastructure while simultaneously managing the first-order effects of supply chain disruption. Currenxie is betting the answer is yes, and that the pain of rising costs will overcome the inertia of banking relationships.