The UK-based fintech has completed the roll-out of its Global Currency Account in 27 European countries – three months after its initial launch in the UK

LONDON, UNITED KINGDOM, November 23, 2021 /EINPresswire.com/ -- Sokin, the next generation global payments provider, has completed the roll-out of its Global Currency Account in 27 European countries – three months after its initial launch in the UK, August 2021.

Since its launch, the London-based fintech, which was founded in 2019, has welcomed 45,000 account holders (with a further 60,000 on its global waiting list), to its inclusive global payments solution, which is over 50%* cheaper on global money transfers.

In just three-months, the Sokin Global Currency Account can now be accessed via its advanced peer-to-peer mobile app and Mastercard supported debit card, in 27 European countries: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden as well as the United Kingdom.

Sokin plans to continue its ambitious roll-out with full product launches, including debit cards, in regions such as North America, Asia Pacific, South Asia, Latin America, and the Middle East in 2022. Sokin is on track to have the largest international footprint for money transfers and currency exchange compared to other providers in the market.

Vroon Modgill, CEO for Sokin said: “Sokin’s geographical expansion plan and speed is at the heart of what we do and why I set the company up; it’s somewhat unheard of in the industry, but crucial to creating access to the payments system for so many people. It is expected our Sokin debit cards will be worldwide within 12 months and have a much wider reach than others out there. I am delighted that Sokin is leading the way in democratising and simplifying the notoriously difficult and expensive payments process. Sokin is a truly global platform, and we are committed to providing a financial solution people all over the world can use.”

Available on iOS and Android, Sokin is the first payments platform to take the subscription model and use it for transfers on a global scale, unlike other providers which charge a fee per transaction. Accountholders can access unlimited international transfers and cost-effective currency exchange in 38 currencies to over 200** countries and territories.

The Sokin Global Currency Account and app can be accessed in Spanish, European Portuguese, French and German to further remove the barriers that have historically hindered access and financial inclusion.


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Editor’s Notes

Sokin is the official FX global payments provider for well-known football clubs Arsenal, Everton, Fulham FC and AS Monaco, and NFL team, the Miami Dolphins, with others due to be announced shortly, and has partnered with Mastercard in Europe, Asia and Singapore. Other territories will be rolled out shortly.

About Sokin

Sokin is a global currency account provider focused on creating an open and transparent payments platform. It is the only payment provider enabling global payments for a fixed monthly fee, giving consumers the power to make unlimited payments and transfers. There are no additional costs or hidden fees just straightforward currency exchange and money transfers, simplifying and democratising the process. Sokin was founded by Vroon Modgill in 2019, the company is headquartered in London and has 10 offices globally.

For more information, please go to www.sokin.com.

*Comparison based on the average digital remittance cost when sending USD200 using the free Sokin basic account. Data sourced from the World Bank: Remittance prices worldwide, Q1 2021, quarterly report

**Subject to, and pending, local licensing and regulatory requirements. Please refer to sokin.com/regulation for further information.

Sokin is a trading name, and a registered trademark of Plata Capital Ltd. For further information on accessing the Sokin app, and related payment services, in your country of residence please refer to www.sokin.com.

Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Sokin cards provided to EEA residents are issued by Transact Payments Malta Limited pursuant to licence by Mastercard International. Transact Payments Malta Limited is duly authorised and regulated by the Malta Financial Services Authority as a Financial Institution under the Financial Institution Act 1994. Registration number C 91879. Transact Payments Limited is authorised and regulated by the Gibraltar Financial Services Commission.

Sian Dennis
Sokin
+44 333 311 0300
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