CAB Payments Holdings said on Tuesday that its subsidiary, Crown Agents Bank, has received regulatory approval to open a representative office in New York City, marking a key step in its international expansion.
CAB Payments Subsidiary Granted Licence to Operate US Representative Office in NYC
The licence, granted by the Federal Reserve Board and the New York State Department of Financial Services, is said to allow the firm to establish a regional hub for client services and business development across the Americas.
CAB said the US presence will support existing relationships and help build closer ties with its US dollar clearing partners, while also facilitating FX and cross-border payment flows from clients in South and Central America.
“I am delighted we have been granted the licence to operate a representative office in New York,” said Neeraj Kapur, Group CEO of CAB Payments. “This presence in one of the world’s leading financial centres further enhances our network, allowing us to better serve existing and new clients.”
The New York office complements CAB’s operations in the UK and Europe and is part of its broader strategy to grow a global FX and payments business focused on hard-to-reach markets.
“We are excited to bring our best-in-class FX and cross-border payment services to the Americas,” Kapur added, highlighting the company’s commitment to international growth and client connectivity.
