USForex Expands Northeast Operations through Connecticut and Maine Licensing

Wednesday, 15 May 2013


SAN FRANCISCO--(BUSINESS WIRE)--May 15, 2013--

USForex, one of the world's fastest-growing, technology-driven foreign exchange providers, today announced its continued U.S. expansion with its attainment of licensing in Connecticut and Maine. Connecticut represents the first foray for USForex in the Tri-state area, a key market for the company's growth strategy. Additionally, with proximity to Canada, Maine represents an important market for USForex's growth in New England. USForex collaborates with its Toronto-Based colleague, CanadianForex, around driving business development throughout North America.

"Establishing a presence in the Tri-State area and New England is an exciting moment for us as we continue to advance USForex and the delivery of our hassle-free and tech-savvy platform to customers in new markets coast to coast," said Michael Ward, CEO, North America and Europe for USForex. "Part of our mission is to partner with businesses and consumers by providing them with the tools and strategic guidance they need to mitigate the risk associated with managing international payments."

A wholly-owned subsidiary of OZForex and headquartered in San Francisco, USForex is currently licensed in 16 states, along with operations in an additional four states where licensing approval is not required. The company projects it will register 25,000 new clients in 2013, and currently has 15 additional state expansion plans in the pipeline.

Operating with a high-tech and high-touch delivery model, offering 24-hour access to corporate and private client dealers for all of its customers, USForex is becoming the go-to solution for the foreign exchange needs of small and medium-sized importers and exporters, as well as individuals who transfer financial assets, have recurring payments overseas, and individuals investing abroad.

USForex makes foreign exchange simple, secure and easy, with quick set up, transparency and tailored payments solutions. Customers have the ability to make international money transfers from home or anywhere in the world by phone or via USForex's fully secure online platform. Along with California and now Connecticut and Maine, USForex has secured state approval to operate in Colorado, Delaware, Florida, Georgia, Illinois, Maryland, Michigan, Missouri, North Carolina, Oregon, Texas, Virginia and Washington. USForex also provides services in New Mexico, Montana, South Carolina and Wisconsin.

For more information on USForex, call 1-888-288-7354 or email info@usforex.com.

About USForex

USForex is a wholly-owned subsidiary of OzForex, a strategic investment of Macquarie Bank, Accel Partners and the Carlyle Group, and original co-founders Matt Gilmour and Gary Lord. USForex is part of the OzForex Group which includes UKForex, CanadianForex, OzForex, NZForex and Tranzfers. Since its launch in 1998 by Matt Gilmour, the Group has grown to be one of the world's largest online foreign exchange companies. The Company's client base includes small and medium-sized importers and exporters, as well as individuals who transfer financial assets, have recurring payments overseas, and those investing abroad. The USForex Board of Directors is made up of executives with significant experience in foreign exchange and the financial markets.

CONTACT: Media:

Allison+Partners

David M. Baum, 646-428-0620

David.Baum@allisonpr.com

Wall Street Journal

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