Rate.am and IDBank have launched Rate.Trading, a platform designed for digital foreign exchange transactions. The project targets both individual and corporate clients and aims to make financial services more accessible, faster and more efficient.
Users can monitor available exchange rates, choose suitable terms, or submit their preferred rate. A transaction is executed only if the Bank fulfills the order at that rate.
According to rate.am director Gevorg Mamikonyan, the platform was built on the idea that digital financial services should respond to real customer needs and shifts in the market. He said specialized digital platforms can enable currency conversions at significantly more favorable rates while making the process simpler, safer and more efficient.
Rate.Trading currently supports ten currencies: the Armenian dram, US dollar, euro, Russian ruble, Georgian lari, UAE dirham, British pound, Chinese yuan, Japanese yen and Swiss franc.
The platform is also available as an app. Users can access it through the Idram&IDBank application, allowing them to carry out foreign exchange transactions directly from a smartphone.
Mamikonyan said the platform’s simple interface and digital transaction flow make it a practical tool for users looking for favorable exchange rates and seeking to save time. He added that the launch also supports the digitalization of financial services, greater transparency in the foreign exchange market and wider use of modern technologies.
He also said Rate.Trading remains under active development, with plans to add new foreign exchange tools so that customers can manage their funds more effectively.
