A marketplace for UK and European wine sellers
WineBourse is a low-cost real-time marketplace for cases of wine stored in UK and European bonded warehouses. Their platform is designed for private collectors and industry professionals to transact anonymously, efficiently, and securely online. The platform works by buyers creating bids and sellers creating offers, when a bid and an offer match a trade is automatically executed.
As the platform grew WineBourse needed a more efficient way to manage their foreign exchange exposure on transactions between UK and European buyers and sellers. As a result, WineBourse turned to Currency//UK who were able to offer them and their clients a fully automated process.
By using Currency//UK’s state of the art application programme interface (API), when a transaction takes place on the platform involving foreign exchange the exposure is automatically hedged by Currency//UK’s API. Due to the large frequency of transactions, WineBourse would have to pay settling fees on each FX transaction but due to Currency//UK’s net settlement process, WineBourse pay as few settling fees as possible.
The WineBourse marketplace is also able to feature dynamic pricing in six different currencies through the API which has the capability to support 148+ currency pairs in total.
Furthermore, Currency//UK’s expertise has allowed them to support WineBourse with navigating payments between UK and European banks and as a result, the WineBourse platform continues to grow with more and more satisfied buyers and sellers every month.