PAYMENTS

Rapyd Acquires Hong Kong-based Neat to Expand Cross Border Trading Capabilities for Businesses

Rapyd | January 31, 2022

Rapyd_Acquires_Hong
Rapyd, a global Fintech-as-a-Service company, announces its acquisition of Hong Kong-based Neat to expand cross-border trading capabilities for businesses globally. Neat is a cross-border trading platform for SMBs and start-ups. The platform enables financial companies to securely incorporate and open an account in Hong Kong to receive and transfer multicurrency funds at competitive rates, issue them to employees, initiate payment gateways, and more.

Rapyd’s global payments network supports over nine hundred methods in over 100 countries. The network also supports global payouts in over two hundred countries. These networks are unique and support entrepreneurs and Small and Medium Businesses (SMBs) to incorporate in new markets quickly online. In fact, by utilizing Rapyd's unmatched payments network and fintech as-a-service platform, businesses and users can engage in regional and cross-border transactions in any market. In addition, the easy-to-use API-based platform simplifies complex cross-border payment processes, which are essential for businesses in the global trading system.

In this venture, Neat’s services, capabilities, and licenses will be integrated into Rapyd’s platform, which will provide easy-to-use online global trading solutions to SMBs, entrepreneurs, and other growing financial companies. With the help of the integration, the user will now be able to streamline payables and receivables across the world in a single venue that offers real-time high-value payments in Hong Kong through CHATS, SWIFT, and FPS. Apart from these, users can accelerate payments to suppliers across Greater China, empower small businesses to initiate their expenditure via virtual and physical virtual cards, and provide businesses to work faster in the capital with an in-wallet credit line.

The completion of the acquisition of NEAT represents a significant step forward in expanding our platform's global capabilities for small and medium businesses. As SMBs have evolved into increasingly complex and ambitious enterprises, the tools they require must advance as well in order to keep pace with the demands of this new wave of 'micro-multinationals.' We will continue to add more tools to our network in order to continue to support these growing businesses."

Arik Shtilman, CEO and co-founder of Rapyd

Spotlight

Since the inception of Bitcoin in 2008, financial markets have seen a sharp increase in market capitalization for various blockchain-based assets in recent years. Yet, Bitcoin still represents the most popular cryptocurrency, with a market capitalization amounting to approximately USD 370 billion as of mid 2022. The recent phenomenon of blockchain-based applications such as non-fungible tokens (NFTs) and the emergence of decentralized finance (DeFi) have also contributed to the mushrooming of digital assets. In particular, DeFi has experienced tremendous momentum, with cryptocurrency investments locked to the Ethereum blockchain exceeding USD 100 billion by the end of 2021. DeFi has witnessed a rapid increase in market value in 2021, accompanied by a growing user base and the emergence of new, innovative use cases. Against this backdrop, we believe that exploring and developing a comprehensive understanding of DeFi marks a worthwhile endeavor.

Spotlight

Since the inception of Bitcoin in 2008, financial markets have seen a sharp increase in market capitalization for various blockchain-based assets in recent years. Yet, Bitcoin still represents the most popular cryptocurrency, with a market capitalization amounting to approximately USD 370 billion as of mid 2022. The recent phenomenon of blockchain-based applications such as non-fungible tokens (NFTs) and the emergence of decentralized finance (DeFi) have also contributed to the mushrooming of digital assets. In particular, DeFi has experienced tremendous momentum, with cryptocurrency investments locked to the Ethereum blockchain exceeding USD 100 billion by the end of 2021. DeFi has witnessed a rapid increase in market value in 2021, accompanied by a growing user base and the emergence of new, innovative use cases. Against this backdrop, we believe that exploring and developing a comprehensive understanding of DeFi marks a worthwhile endeavor.

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