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Foreign Exchange Services Industry Report 2024: A $14.43 Billion Market by 2029 from $8.95 Billion in 2023 – Global Industry Size, Share, Trends, Opportunity, & Forecasts

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DUBLIN, March 6, 2024 /PRNewswire/ — The “Foreign Exchange Services Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2019-2029” report has been added to  ResearchAndMarkets.com’s offering.

The Global Foreign Exchange Services Market was valued at USD 8.95 billion in 2023 and is anticipated to grow with a CAGR of 8.3% through 2029, reaching USD 14.43 billion

The Global Foreign Exchange Services Market has been experiencing significant growth and evolution in recent years. With the increasing globalization of businesses and the interconnectedness of global financial markets, the demand for foreign exchange services has risen substantially.

The market encompasses a wide range of services, including currency trading, remittance, and payment solutions for businesses and individuals engaged in international transactions. Technological advancements, such as the adoption of electronic trading platforms, have further contributed to the market’s expansion, providing users with more efficient and real-time access to foreign exchange markets.

Several factors are driving the growth of the global foreign exchange services market. Firstly, the rise in international trade and investment activities has created a need for seamless and secure cross-border transactions, fostering the demand for foreign exchange services. Additionally, the increasing number of multinational corporations and the expansion of e-commerce on a global scale have spurred the necessity for currency exchange and risk management services.

As the market continues to evolve, regulatory developments, geopolitical factors, and advancements in financial technology will play crucial roles in shaping the landscape of global foreign exchange services. Overall, the market is expected to witness sustained growth as businesses and individuals continue to engage in international activities, necessitating efficient and reliable foreign exchange solutions.

Segmental Insights

Type Insights

The Remittance Services segment is experiencing a significant surge in demand within the Global Foreign Exchange Services Market. This heightened demand is attributed to several factors, chief among them being the increased global mobility of the workforce. As more individuals seek employment opportunities abroad or migrate for various reasons, the need for efficient and cost-effective remittance services has grown substantially.

The Remittance Services segment plays a crucial role in facilitating the seamless transfer of funds across borders, allowing individuals to support their families and meet financial obligations in their home countries. The convenience offered by online platforms and mobile applications in initiating and tracking remittance transactions has further fueled the popularity of remittance services, driving its prominence in the overall foreign exchange market.

Moreover, the rise of digital solutions and fintech innovations has transformed the remittance landscape, offering competitive exchange rates, lower fees, and faster transaction processing times. This has attracted a broad user base, including expatriates, migrant workers, and individuals studying abroad. As the demand for cross-border money transfers continues to grow, the Remittance Services segment is positioned as a key driver in the Global Foreign Exchange Services Market, reshaping the industry to cater to the evolving needs of a globally connected population.

Application Insights

The Businesses segment is witnessing a substantial increase in demand within the Global Foreign Exchange Services Market. This surge is primarily driven by the globalization of trade and commerce, as businesses expand their operations across international borders. Companies engaged in importing and exporting goods and services require foreign exchange services to navigate the complexities of dealing with multiple currencies.

The Businesses segment within the foreign exchange market offers solutions such as currency conversion, risk management, and hedging strategies to help enterprises mitigate the impact of exchange rate fluctuations. The demand is further fueled by the growing number of multinational corporations that conduct transactions in various currencies and need sophisticated financial tools to optimize their foreign exchange exposure.

Additionally, the rise of e-commerce has contributed significantly to the demand from the Businesses segment. With the expansion of online commerce on a global scale, businesses involved in e-commerce require efficient foreign exchange services to manage cross-border transactions and handle currency conversions seamlessly.

Regional Insights

The North America region is witnessing a notable increase in demand within the Global Foreign Exchange Services Market, reflecting the region’s dynamic economic activities and international trade engagements. The United States, as a major player in global finance and commerce, contributes significantly to the rising demand for foreign exchange services.

The expansion of multinational corporations headquartered in North America, coupled with the region’s robust international trade relationships, has led to an increased need for efficient currency exchange, risk management, and cross-border payment solutions. As businesses in North America engage in global transactions, the demand for diverse and sophisticated foreign exchange services has grown, making the region a key driver of market expansion.

Moreover, the presence of advanced financial infrastructure and a mature fintech ecosystem in North America further fuels the demand for innovative foreign exchange services. The adoption of cutting-edge technologies, including electronic trading platforms and algorithmic trading, is prominent in the region, enhancing the efficiency and accessibility of foreign exchange markets.

As economic ties between North America and other regions continue to strengthen, the demand for Global Foreign Exchange Services in the North American market is expected to persist, with financial institutions and businesses seeking to optimize their currency-related operations in an increasingly interconnected global economy.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Foreign Exchange Services Market.

Deutsche Bank AGJPMorgan Chase & Co.Wells FargoCitigroup Inc.BarclaysHSBC GroupWestern Union HoldingsStandard CharteredGoldman SachsAmerican Express Company

Report Scope

Foreign Exchange Services Market, By Type:

Currency ExchangeRemittance ServicesForeign Currency AccountsOthers

Foreign Exchange Services Market, By Providers:

BanksMoney Transfer OperatorsOthers

Foreign Exchange Services Market, By Application:

BusinessesIndividuals

Foreign Exchange Services Market, By Region:

North AmericaUnited StatesCanadaMexicoEuropeFranceGermanySpainItalyUnited KingdomAsia-PacificChinaJapanIndiaVietnamSouth KoreaMiddle East & AfricaSouth AfricaSaudi ArabiaUAETurkeyKuwaitEgyptSouth AmericaBrazilArgentinaColombia

For more information about this report visit https://www.researchandmarkets.com/r/5a0cmu

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SOURCE Research and Markets

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EVIDENT Expands Its Pramana Digital Pathology Portfolio to Support Small and Medium-Sized Labs

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The new Pramana™ POD benchtop WSI scanner delivers autonomous imaging to help laboratories create pathologist-ready whole slide images with minimal operator intervention.

NEEDHAM, Mass., Oct. 16, 2026 /PRNewswire/ — Today, Evident announced the Pramana™ POD whole slide imaging (WSI) scanner, a new benchtop system designed to help laboratories produce trusted images. Built for small and medium-sized laboratories and specialty applications within larger institutions, the scanner helps make digital pathology adoption more accessible.

As pathology laboratories expand digital workflows amid increasing case volumes and operational demands, they need scanning systems that produce consistent, high-quality images across specimen types while integrating into existing laboratory workflows. Evident designed the Pramana POD scanner to address those needs, extending proven Pramana autonomous WSI technology to smaller laboratories.

“Pramana WSI technology has received tremendous acceptance from pathology labs across academic medical centers and network labs across the United States,” said Prasanth Perugupalli, Vice President of Digital Pathology, Evident. “By incorporating quality assurance into the whole slide imaging process, Pramana technology can help labs of varying sizes reduce the need for post-scan QA and the associated costs and delays.”

The Pramana POD scanner automates imaging with an advanced tissue finder, extensive label detection, and automated focal plane and scan-profile selection. Built-in image-quality assessment helps deliver pathologist-ready whole slide images and identify scans that may require further review. Volumetric imaging captures multiple focal planes to support the selection of sharp focal information across the scanned area, with true 40X imaging at 25 slides per hour under defined conditions.

The Pramana series of autonomous WSI scanners is well-suited for most brightfield imaging applications, including histopathology, core biopsies, hematology, cytology, and microbiology.

“Scientific advances move quickly, but laboratory infrastructure changes slowly,” Perugupalli added. “With the Pramana POD scanner, small and medium-sized labs can build as their needs evolve.”

To learn more about the Pramana POD benchtop WSI scanner, visit evidentscientific.com/products/slide-scanners/pramana-pod.

About EVIDENT
For over 100 years as Olympus, we set the industry standard for optical precision in microscopy, helping the world see what was once out of view. Today, as Evident, we continue to help scientists, physicians, and engineers illuminate the unseen with advanced imaging solutions that combine renowned optics with cutting-edge digital innovation.

Our life science portfolio supports research, clinical diagnostics, and education, offering a comprehensive range of imaging methods from essential brightfield and darkfield microscopy to advanced fluorescence, 4D analysis, and digital pathology. In industrial microscopy, we deliver precision and flexibility through laser scanning, digital, and semiconductor microscopes designed for tasks ranging from routine inspection to intricate quality control and manufacturing analysis.

Whether advancing new therapies, ensuring product integrity, or exploring the unknown, Evident is defining a new era of discovery with easy-to-use tools that help unlock hidden answers and empower exciting new breakthroughs.

Evident is headquartered in Tokyo and supported by R&D and manufacturing centers in Japan, the United States, Germany, and China, with operations and dedicated sales and service centers around the world. For more information, visit EvidentScientific.com.

For Research Use Only. Not for use in diagnostic procedures. Future clinical availability is subject to applicable regulatory authorization, and regulatory status and availability may vary by country. Performance varies by specimen type and workflow.
Pramana is a trademark of Evident Corporation or its subsidiaries.

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SOURCE Evident

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PhotonPay Secures UK EMI Licence, Advancing Its Global Payment Operating System

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HONG KONG, Oct. 17, 2026 /PRNewswire/ — PhotonPay, a next-generation payment operating system, today announced that it has secured an Electronic Money Institution (EMI) licence from the UK Financial Conduct Authority (FCA).

The licence enables PhotonPay to issue electronic money and provide regulated payment services in the UK within the scope of its authorisation. It further strengthens PhotonPay’s local capabilities in the market and supports the company in delivering broader payment and treasury solutions for businesses operating globally.

The UK is one of the world’s leading financial and commercial hubs, and an important gateway for businesses operating across Europe and international markets. As companies expand into more countries and regions, their financial needs are evolving beyond individual cross-border transactions toward more integrated management of accounts, collections, payouts, foreign exchange, cards and treasury operations.

For PhotonPay, entering a market means more than making products and services available. It requires building a local financial foundation that meets regulatory requirements and can support businesses over the long term. The EMI licence further strengthens PhotonPay’s position in the UK and provides an important foundation for deeper connectivity with local banks, payment networks and the broader financial ecosystem.

JP, Global Head of Compliance at PhotonPay, said:

“Securing our UK EMI licence marks an important milestone in the continued expansion of PhotonPay’s global regulatory footprint. Building a global payment operating system requires strong local regulatory foundations. This authorisation strengthens our ability to build for the long term in the UK, while supporting our continued expansion across more markets, currencies and payment networks. Ultimately, it enables us to deliver a more complete and efficient payment and treasury experience for businesses operating globally.”

As businesses expand internationally, the financial infrastructure behind their operations remains highly fragmented. Different markets operate across distinct account structures, payment networks, currencies and regulatory frameworks, often requiring businesses to manage multiple financial institutions, payment providers and systems at the same time.

PhotonPay is building its next-generation payment operating system around this complexity. Through a unified technology platform, the company connects local financial capabilities across markets, enabling businesses to manage global accounts, collections, payouts, foreign exchange, cards and embedded finance more centrally while reducing the operational complexity created by multiple markets, currencies and systems.

Real commerce is the foundation of this operating system. By continuously expanding its regulatory coverage, banking relationships, payment networks and underlying technology infrastructure, PhotonPay aims to ensure that financial infrastructure can scale alongside a business as it enters new markets and grows internationally.

Since its founding, PhotonPay has continued to expand its global regulatory and local market capabilities through entities across major financial markets. Today, PhotonPay has secured nearly 30 payment licences and related regulatory authorisations worldwide, supporting capabilities across global accounts, collections, payouts, foreign exchange, cards and embedded finance.

The UK EMI licence represents another step in the continued development of PhotonPay’s global regulatory network. Looking ahead, PhotonPay will continue to deepen its local regulatory and financial capabilities in key markets, connect more markets, currencies and payment networks, and advance the development of its next-generation global payment operating system.

About PhotonPay

PhotonPay is a next-generation payment operating system designed for businesses operating globally. Across global accounts, collections, payouts, foreign exchange, cards and embedded finance, PhotonPay connects banks, payment networks and local financial infrastructure to help businesses manage global money movement more efficiently and expand into new markets with greater operational simplicity.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/photonpay-secures-uk-emi-licence-advancing-its-global-payment-operating-system-302911540.html

SOURCE PhotonPay

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Canada to advance global nature conservation and climate action at upcoming United Nations conferences

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OTTAWA, ON, Oct. 16, 2026 /CNW/ — In a more uncertain and increasingly unstable world, Canada is stepping up to build a safer and more resilient future. Addressing climate change and biodiversity loss requires ambitious action at home and around the world. By advancing progress on both, Canada will protect nature, build resilient communities, and create lasting prosperity for future generations. International cooperation is key to achieving these goals.

That is why the Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature, will lead Canada’s efforts as Head of Delegation at the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17) and the 31st meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31).

At COP17, Minister Dabrusin and the Honourable Nathalie Provost, Secretary of State (Nature), will work with international partners to accelerate implementation of the Kunming–Montréal Global Biodiversity Framework. From October 19 to 30, 2026, in Yerevan, Armenia, Canada will champion the critical role of Indigenous peoples in conservation and advocate for practical solutions to mobilize global resources for biodiversity finance. Canada will showcase its leadership through two Canadian-led official side events focused on innovative nature finance and the essential role of Indigenous leadership in advancing conservation efforts at home and around the world. The delegation will also take part in strategic bilateral meetings, high-level roundtables, and civil society events to strengthen cooperation, advance solutions, and drive action to halt and reverse biodiversity loss.

From November 9 to 20, 2026, in Antalya, Türkiye, Canada will participate in the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31). Building on multilateral engagements, including the 10th Ministerial on Climate Action, Canada will continue working with international partners, Indigenous representatives, civil society, youth, and other stakeholders to strengthen the resilience of vulnerable communities; reduce methane emissions; accelerate electrification; and mobilize finance and investments from public and private sources. For the fifth consecutive year, Canada will host a national pavilion at COP31, showcasing Canadian climate leadership and innovation. The Canada Pavilion will serve as a hub for connection and collaboration.

Canada’s international leadership is backed by action at home. To accelerate electrification, Canada is building major clean energy projects across the country, including with the largest clean energy investment in North American history in Churchill Falls. Through A Force of Nature: Canada’s Strategy to Protect Nature and $3.8 billion in investments and funding, Canada is advancing its commitment to conserve 30% of lands and waters by 2030 through strong partnerships and innovative approaches to conservation. Canada recently reinforced this commitment by joining the 30×30 for Nature and People Ministerial Declaration at the 81st session of the United Nations General Assembly. Prime Minister, Mark Carney, recently announced a historic investment of $1.2 billion to better protect Canada’s oceans and the life they sustain. This will increase monitoring, strengthen ocean science and ecosystem protections, and improve marine incident prevention and preparedness. These priorities will be a key focus at both upcoming conferences.

Canada’s delegations to COP17 and COP31 will bring together the diverse perspectives from across Canadian society, including Indigenous representatives, civil society, the private sector, youth, and provincial and territorial government representatives. Working with international partners, these delegations help advance practical solutions to protect nature, strengthen resilience, and support sustainable economic prosperity.

Quotes

“Climate change and biodiversity loss are global challenges that no country can solve alone. At COP17 and COP31, Canada will work with partners from around the world to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework and the Paris Agreement and collective efforts to address nature protection and climate change. Through international cooperation, Indigenous leadership, innovative solutions, and a collective commitment to conservation and climate action, we will build a sustainable future for people and nature alike.”
– The Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature

“Nature loss is a global challenge that requires countries to work together and turn shared commitments into action. At COP17, Canada will share its experiences in advancing nature finance, including innovative approaches to valuing natural capital and mobilizing private investment for conservation. By exchanging ideas, lessons learned, and practical solutions with international partners, we can accelerate progress toward our global biodiversity goals and recognize nature as a foundation of long-term economic prosperity and resilience.”
– The Honourable Nathalie Provost, Secretary of State (Nature)

Quick facts

As the second largest country in the world, Canada has a vast amount of natural capital, including 24% of the world’s boreal forest, 37% of lakes, 25% of wetlands, and approximately 80,000 species. We have both a responsibility to steward these resources as well as a competitive advantage because of these assets.Canada hosted the 15th meeting of the Conference of the Parties to the United Nations Convention on Biological Diversity (COP15) in Montréal in 2022, which resulted in the adoption of the Kunming–Montréal Global Biodiversity Framework: an ambitious global plan to halt and reverse biodiversity loss by 2030.Canada supports the Armenian COP17 presidency and its approach to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework toward meeting the Framework’s goals and targets.In September 2026, Canada and China co-chaired the Kunming Dialogue in Kunming, China. The Dialogue was a multilateral working-level meeting to discuss progress and challenges in the implementation of the Framework ahead of COP17.The Canada Pavilion at the United Nations Conference of the Parties (COP) is a key space to show Canadian climate leadership and innovation.Reducing methane emissions remains one of the fastest and most cost-effective ways to limit the rise of near-term global temperatures. Canada serves as co-convenor of the Global Methane Pledge, which counts 159 participating countries and the European Commission, with participants agreeing to take voluntary actions toward a collective goal of reducing global methane emissions at least 30% by 2030 (from 2020 levels).In April 2026, Canada announced a new goal of delivering $13 billion in international climate finance over the next five years.

Associated links

A Force of Nature: Canada’s Strategy to Protect NaturePrime Minister Carney Announces Historic Investment to Protect Canada’s OceansCanada Pavilion at the Conference of the Parties (COP)

Environment and Climate Change Canada’s X page
Environment and Climate Change Canada’s Facebook page
Environment and Natural Resources in Canada’s Facebook page
Environment and Climate Change Canada’s LinkedIn page
Environment and Climate Change Canada’s Instagram page

SOURCE Environment and Climate Change Canada

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