Rhode Island Chronicle

Hong Kong – Sept. 25, 2026 – Elephants Inc., a challenger business banking alternative, has launched multi-currency accounts for businesses starting with 5 currencies: USD, EUR, GBP, HKD, and SGD. The launch gives businesses greater control over international payments, helping them manage money across markets without unnecessary currency conversions. Different from standard multi-currency accounts, Elephant’s virtual accounts can send and receive in both local payment methods (e.g. SEPA) and SWIFT.

The feature provides businesses with more control and reduces the cost of operating across borders. The accounts support local payment networks, including SEPA for EUR and FAST for SGD, as well as SWIFT, with availability depending on the currency and payment route. Businesses can receive and hold funds in supported currencies, pay suppliers from those balances, and choose when to convert. Account opening can be completed in hours, subject to business verification and approval.

For example, a Singapore-based supplier receiving payment from a Hong Kong customer can now collect and hold HKD, then use that balance to pay HKD-denominated expenses or convert it to SGD when needed. This can reduce unnecessary currency conversion costs and reliance on SWIFT transfers and their associated fees. This provides businesses with flexibility and greater control, especially regarding corporate treasury and foreign currency operations.

With multi-currency virtual accounts, a business can now receive supported currencies into their Elephants accounts. They can then convert, send, or spend these currencies on their terms. This enriches Elephant’s existing product, which already enables customers to make international transfers in more than 100 destination currencies, with market-leading FX rates. Together, these services give businesses a connected way to collect revenue and pay suppliers across borders, with greater control over the timing and cost of moving money.

“For founders, expanding overseas often means more accounts, more fees, and more time spent moving money,” said Jon Low, CEO of Elephants Inc. “If you receive HKD today and need to pay a supplier in HKD next week, you should be able to keep that money in HKD. We’re giving businesses that flexibility, alongside the tools to manage their payments and spending in one place. That means less time managing the financial admin of expansion and more time building the business. Best yet, we’re just beginning; watch this space for what comes next”

The company plans to add more APAC currencies by the end of 2026. For a business operating in several regions, the gain is straightforward. Money arrives in the currency the customer paid in, sits where it can be sent, and converts only when the business decides it should. This move removes the mental load of balancing currencies and saves thousands in fees. This change is a step forward for the industry, which is rapidly evolving for the AI era. Customers now demand instant payments, competitive rates, instant account opening, and digital native experiences. The launch also supports Elephants’ broader focus on simplifying financial operations through connected payments, spend management, and AI. Ele, the company’s AI assistant, helps customers check balances, understand spending, and access financial insights through WhatsApp.

Find out more at elephants.inc/products/multi-currency.

About Elephants Inc.

Elephants Inc. is a payments platform built to help modern businesses run their money, not just process payments. The company helps customers receive payments, manage spend, issue cards, move money globally, and operate across multiple currencies and stablecoins from one system, with real-time visibility and AI-powered workflows that simplify everyday financial operations. Its mission is to champion entrepreneurs to build businesses that move the world.

Media Contact
Company Name: Elephants Inc.
Contact Person: Amber Ongpaibool
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Country: Thailand
Website: https://elephants.inc/