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Forex forray: Interbank targets the Kingdom

Forex forray
AMERICAN online foreign-exchange broker, Interbank FX, is seeking Cambodian partners in order to expand to the Kingdom.

“We are here to seek local partners such as banks, investment funds, securities brokerage and individuals,” said Peg Reed, Utah-based Interbank FX managing director of global partnerships, at a press briefing in Phnom Penh yesterday.

The company provides online platforms for foreign currency trading. She said that as Cambodia was an emerging market working towards the establishment of a stock market, it was the right time for the company to show its presence here.

“This is the first step in partnering with Cambodian financial institutions,” she said. “After we have a few local partners, we will set up an office here.”

Last year, the firm opened its office in Seoul, Korea. So far, it has served about 35,000 customers in more than 140 countries.

On Monday, Reed met with about 45 executives from banks and financial institutions but no deal has yet been inked.

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