TreasurySpring, the global cash investment platform, has announced the launch of a new currency conversion capability. This integrated feature simplifies the process of converting cash between major currencies, providing Financial Directors and Treasurers with a more efficient and transparent solution to foreign exchange.

The new functionality enables platform users to benefit from competitive, auditable, and transparent conversion when redeeming from, or subscribing to, any of the 650+ Fixed-Term Funds offered through the platform.

Conversions are transacted against a regulated benchmark, the global standard WMR Intra-Day Spot Rate as published by FTSE Russell on the hour throughout the trading day. Currencies that are now available are GBP, EUR, USD, CHF and CAD.

Matthew Longhurst, COO and Co-Founder, commented: “Currency markets are notoriously opaque. We believe that transparency should be built-in, so we created a system that allows our users to convert their cash with reference to an auditable wholesale rate - quickly and efficiently.

“Clients can already access products in multiple currencies through TreasurySpring; with same-day currency conversion, clients will no longer need to take cash off-platform to convert between currencies, enabling them to maximise return on cash while reducing risk and improving efficiency.”

Kevin Cook, CEO and Co-Founder, added: “Clients are continually looking for ways to enhance their cash management capabilities. This launch marks the next step for TreasurySpring as we continue to establish ourselves as the world’s leading treasury platform.

“This new feature aligns with our underlying ethos of democratising and simplifying access to financial markets.”