NTT Communications (NTT Com), the ICT solutions and international communications business within the NTT Group, recently announced that it has invested in M-DAQ, a Singapore-based fintech startup.
M-DAQ and its team of foreign exchange (FX) specialists aim to realize a world without currency borders. The company's strengths include its one-of-a-kind service that provides guaranteed competitive FX rates built upon a proprietary predictive demand-based algorithm.
With this strategic partnership with M-DAQ, NTT Com will launch Home Currency Anywhere (HCA), Japan's first rate-guaranteed FX information and transaction data service, around the end of this November. HCA is a service that enables foreign currency conversion at a guaranteed rate. This is supplied on NTT Com's smart data platform environment, integrated with M-DAQ‘s FX engine. This gives users price certainty in the currency of their choice prior to purchasing goods and services overseas.
NTT Com aims to collaborate with companies that use HCA to realize a world where service providers and customers can conduct transactions without worrying about currency fluctuations, including through platform services that connect eWallet operators around the world on a cross-border basis.
