Fintech Currenxie granted SEPA participant status

Currenxie has been granted Single Euro Payments Area (SEPA) Participant status by the European Payments Council, giving the company direct access to SEPA payment rails, native euro IBANs and SEPA Instant clearing in under 10 seconds.

Direct participation means Currenxie can route euro transfers on core European payment rails without using correspondent or partner banks, allowing the firm to operate its own euro payment corridors and control settlement and routing directly.

The company said direct access will reduce reliance on intermediary banking relationships and support embedded Verification of Payee checks. Currenxie also highlighted the ability to settle SEPA Instant transactions in under 10 seconds and to issue native euro IBANs to clients for account-to-account transfers across the European Economic Area.

Sam Coyne, Currenxie’s CEO for Europe, commented: ‘Direct SEPA access lets us issue native euro IBANs and run the payments process end to end. Removing intermediary layers can reduce barriers and improve payment flow.’

Currenxie launched a multi-country, multi-currency business account across the EEA in the second quarter of 2026 after introducing services in the UK earlier in the year. The company serves more than 15,000 clients in about 100 countries, reported over $6 billion in annual payment volume, recorded 23% year-on-year growth in the total value of funds processed in 2025, and has transferred over $18 billion since launch.

SEPA is a framework that standardizes euro transfers across the European Economic Area and sets common rules for payments between IBANs. SEPA Instant is a clearing scheme that settles euro credit transfers in near real time, typically within seconds. Most banks reach SEPA rails through correspondent banks; direct participant status gives an institution more immediate control of settlement and routing.

The company stated the new status is intended to simplify cross-border euro payments for small and medium-sized enterprises using its platform by providing native IBANs, faster settlement and fewer intermediary touchpoints in the payments chain.