Airwallex and Public partner to cut FX costs for UK investors

Global payments company Airwallex is partnering with Public to reduce conversion costs for UK investors purchasing US-based equities.

US investing company Public went live in the UK two months ago in its first move outside the country.

It was founded in 2017, and co-founder Leif Abraham told AltFi in an interview that London will act as the base for its eventual further expansion in Europe.

UK members of the consumer fintech, which combines investments and a social network, can now create a portfolio with more than 5,000 US-listed equities.

The partnership will combine Airwallex’s financial infrastructure and global payment capabilities to create a “frictionless experience” for Public customers.

“Partnering with Airwallex has allowed Public to take the first step toward growing from a US-based-investment platform to a global one, aligning with our mission of making public markets work for all people,” Public international GM Dann Bibas said.

“Looking ahead, we’re confident that Airwallex’s suite of products across cross-border payments and FX will enable Public to support more investors in more places for a long time to come.”

Airwallex’s API will ease the conversion process for users moving between GBP and USD to invest in US stocks, making it simpler for UK users to access American markets.

“Access to a global investing platform levels the playing field for retail investors, and Airwallex’s financial operating infrastructure enables businesses like Public to operate on a global scale,” Airwallex head of enterprise sales EMEA Ryan O’Holleran said.

“We’re excited to be powering Public’s UK app and further break down barriers for UK investors to access the US market.”