Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

Can a cross-border escrow service help businesses reduce the risk of currency fluctuations in international transactions?

Yes, a cross-border escrow service like Castler’s digital escrow system can help businesses reduce the risk of currency fluctuations in international transactions. When conducting business across borders, companies often face the challenge of fluctuating exchange rates, which can lead to unexpected losses or gains. By using an escrow service, businesses can lock in a specific exchange rate at the time of the transaction, reducing the risk of currency fluctuations affecting the final payment amount.

Castler’s digital escrow system provides a secure and efficient way for businesses to conduct cross-border transactions. The platform acts as a neutral third party, holding funds until both parties have fulfilled their obligations. This ensures that both the buyer and seller are protected from fraud and payment disputes. Additionally, Castler’s system allows for multi-currency transactions, making it easier for businesses to conduct transactions in different currencies without worrying about exchange rate fluctuations. Overall, using a cross-border escrow service like Castler’s can help businesses mitigate the risks associated with international transactions and ensure a smooth and secure payment process.