Monoova unveils FX Hub for streamlined global payments

Monoova has launched an FX Hub that combines domestic collections, foreign exchange conversion, funding and settlement in a single automated flow for cross-border payments.

The Sydney-based payments provider positioned the product as an alternative to traditional international payment chains, which often depend on multiple banking relationships and intermediaries. It said these structures can create delays and disconnect the steps between collecting funds, converting currency and settling payments.

Cross-border settlement can take several days. Businesses also often rely on pre-funded accounts or overdraft facilities to manage payment timing, which can create liquidity pressure when volumes rise or cash flow is uneven.

The FX Hub runs on Monoova's API platform, linking collection, conversion and settlement into one workflow and automating the payment lifecycle from local collection to global settlement.

Collections and settlement

The FX Hub uses domestic collections as the starting point for global payments. Customers can collect funds locally, execute FX conversion and settle payments internationally within the same flow.

Monoova also highlighted same-day settlement for some payments, linking faster settlement to improved working capital management and reduced reliance on pre-funding.

Ben Hiscox, Monoova's Head of FX & Treasury, described the launch as a shift away from using separate systems for each stage of a payment.

"Historically, global payments have treated FX, collections and settlement as separate problems," Hiscox said. "The FX Hub brings these together into a single automated flow, allowing businesses to collect funds locally, convert currencies and settle globally without the operational complexity that usually sits between those steps."

Liquidity network

The FX Hub connects to a global liquidity network of Tier 1 banks and payment providers. Monoova described the network as diversified, with a focus on counterparty risk management and access to competitive FX pricing.

Businesses that run international payouts or receive overseas funds often use different suppliers for collections, FX execution and settlement. These arrangements typically require separate onboarding and compliance processes and add operational overhead for finance and treasury teams.

Hiscox said Monoova aims to consolidate that set-up into a single relationship, while still routing through multiple liquidity partners.

"Having separate providers for collections, FX execution and settlement means separate onboarding, KYC processes and operational overhead," Hiscox said. "Monoova simplifies this into a single counterparty relationship, while still providing access to our diversified network of liquidity partners."

Platform context

The FX Hub expands Monoova's broader API-based payments platform for moving money in and out of Australia. It integrates Australia's New Payments Platform, PayTo and PayID, as well as Direct Debit and BPAY. Monoova also offers cross-border transfers as part of its existing product set.

Monoova said its services are used indirectly by a large segment of the Australian population through its customers, facilitating transactions involving more than 10% of all Australians.

It positioned the FX Hub as part of a broader push towards integrated payments infrastructure, allowing businesses to collect, convert and move money internationally through a single platform with an automated process from collection to settlement.