MoneySwap hedges bets on Macau casino tie-up

Another week, another listing on the Alternative Investment Market (Aim). This time it is the Hong Kong-based MoneySwap, which is preparing for its admission this Wednesday. The online money-exchange platform, which allows businesses and individuals to use the Swift banking system to transfer funds across different regions, is raising just over £3m with the listing, which is expected to value the firm at about £20m.

The money swap, so to speak, takes place through Swift – an established network that allows banks to exchange messages with each other – and boasts low fees and no minimum quantity. Once the transfer is completed, funds can be withdrawn via a recipient's bank account, or loaded on to one of the pre-paid MoneySwap MasterCards that are issued by partner banks.

The firm company currently has its sights set on the small businesses active in imports and exports in the Asia-Pacific region. Alongside this, Money-Swap said it is also targeting the many millions of remittances made by migrant labourers throughout Asia, and also at the lucrative gaming sector.

For the latter, it is working with the operators of the Melco Crown and Genting casino in Macau – China's answer to Las Vegas. The idea is to adapt the MoneySwap platform to allow visitors to deposit funds and receive payouts "in their place of departure and currency of choice", rather than at the casino in Macau.

This year is also set to bring a product launch, with Money-Swap gearing up to unveil its QuickPayIT solution in the third quarter. This will allow individuals to pay merchants for goods and services without either one having to enter or receive banking information, according to the company.

"We are delighted to be bringing MoneySwap on to the London Stock Exchange's Aim market," said Richard Proksa, the chief executive of MoneySwap. "The LSE has an exceptional standing in the minds of Asia-Pacific businesses and we see great competitive local advantage in being able to demonstrate that our company, processes and management team have all met the stringent requirements set by the LSE."

PROMOTED VIDEO
News
ebooksNow available in paperback
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Langley James : IT Support; Helpdesk, VMware; Manchester, £18k

£16000 - £18000 per annum: Langley James : IT Support; Helpdesk, VMware; Manch...

h2 Recruit Ltd: Business Development Manager - HRO - £70k+ ote

£35000 - £450000 per annum + £3k car, £70k ote: h2 Recruit Ltd: Do you want to...

Citifocus Ltd: Newly Qualified Accountants - Risk Mgmt

£Attractive Package: Citifocus Ltd: Prestigious financial institution seeks to...

Citifocus Ltd: Operational Risk Analyst

£Negotiable: Citifocus Ltd: Experienced operational risk professional with ban...

Day In a Page

Homeless Veterans Christmas Appeal: Drifting and forgotten - turning lives around for ex-soldiers

Homeless Veterans Christmas Appeal: Turning lives around for ex-soldiers

Our partner charities help veterans on the brink – and get them back on their feet
Putin’s far-right ambition: Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU

Putin’s far-right ambition

Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU
Tove Jansson's Moominland: What was the inspiration for Finland's most famous family?

Escape to Moominland

What was the inspiration for Finland's most famous family?
Nightclubbing with Richard Young: The story behind his latest book of celebrity photographs

24-Hour party person

Photographer Richard Young has been snapping celebrities at play for 40 years. As his latest book is released, he reveals that it wasn’t all fun and games
Michelle Obama's school dinners: America’s children have a message for the First Lady

A taste for rebellion

US children have started an online protest against Michelle Obama’s drive for healthy school meals by posting photos of their lunches
Colouring books for adults: How the French are going crazy for Crayolas

Colouring books for adults

How the French are going crazy for Crayolas
Jack Thorne's play 'Hope': What would you do as a local politician faced with an impossible choice of cuts?

What would you do as a local politician faced with an impossible choice of cuts?

Playwright Jack Thorne's latest work 'Hope' poses the question to audiences
Ed Harcourt on Romeo Beckham and life as a court composer at Burberry

Call me Ed Mozart

Paloma Faith, Lana del Ray... Romeo Beckham. Ed Harcourt has proved that he can write for them all. But it took a personal crisis to turn him from indie star to writer-for-hire
10 best stocking fillers for foodies

Festive treats: 10 best stocking fillers for foodies

From boozy milk to wasabi, give the food-lover in your life some extra-special, unusual treats to wake up to on Christmas morning
Phil Hughes head injury: He had one weakness – it has come back to haunt him

Phil Hughes had one weakness – it has come back to haunt him

Prolific opener had world at his feet until Harmison and Flintoff bounced him
'I have an age of attraction that starts as low as four': How do you deal with a paedophile who has never committed a crime?

'I am a paedophile'

Is our approach to sex offenders helping to create more victims?
How bad do you have to be to lose a Home Office contract?

How bad do you have to be to lose a Home Office contract?

Serco given Yarl’s Wood immigration contract despite ‘vast failings’
Green Party on the march in Bristol: From a lost deposit to victory

From a lost deposit to victory

Green Party on the march in Bristol
Putting the grot right into Santa's grotto

Winter blunderlands

Putting the grot into grotto
'It just came to us, why not do it naked?' London's first nude free runner captured in breathtaking images across capital

'It just came to us, why not do it naked?'

London's first nude free runner captured in breathtaking images across capital