CAB Payments Holdings said on Tuesday that its branch, Crown Agents Bank, received an organizational approval to open a representative office in New York City, which represents a major step in its international expansion.
The license, which is granted by the Federal Reserve and the Ministry of Financial Services in New York, is said to allow the company to establish a regional center for customer services and business development throughout the Americas.
CAB said that the American presence will support the current relations and help build closer relations with the clearing partners of the US dollar, while facilitating the flow flows from FX and Cross-Border from customers in South and Central America.
“I am pleased to give us a license to operate a representative office in New York,” said Niraj Kapoor, CEO of the Payments Group. “This presence in one of the leading financial centers in the world enhances our network, allowing us to better serve current and new customers.”
The New York Office completes CAB operations in the United Kingdom and Europe and is part of its broader strategy for the development of the FX International and Payments that focus on the difficult markets.
“We are excited to provide the best payment services in FX and Cross-Border to the Americas,” Kapoor added, while highlighting the company’s commitment to international growth and customer connection.