FF News Logo
Thursday, October 02, 2025
FF Awards Leaderboard Banner

Travelex Launches Wholesale Banknotes (WBN) Operations in Middle East

WBN business targets aggressive growth of client base in Europe, MENA and Asia – Travelex, a market leading foreign exchange brand and wholesale supplier of banknotes to more than 200 financial institutions and Central Banks worldwide, has launched its wholesale banknotes operations in the Middle East.

The business has already onboarded a wide range of retail bank and non-bank customers across the region, with plans to aggressively expand its client base across Europe, the MENA region and Asia in 2023.

Underpinning this growth is Travelex’s ability to leverage its international vault network and distribute banknotes across the globe, with the Middle East WBN business already undertaking shipments to and from Malaysia, Hong Kong, the UK and the Gulf region.

By expanding the Middle East WBN business in 2023, Travelex is aiming to both become one of the leading wholesale banknote suppliers in the Middle East & Turkey and to further expand its global market share.

In order to provide clients with the security that meets their needs, the WBN business has also invested in partnerships with multiple cash-in-transit providers including its UAE partner Transguard Group, Brinks, Loomis, Ava Global, G4S and World Security; WBN is also expanding to work with Etihad Secure Logistics & Cash Trans.

Batu Dolay, Commercial Director, Travelex Middle East and Turkey said:

We are delighted to launch our wholesale banknotes operations in the Middle East. Our aim is to become the leading WBN MSB in the MENA region by building out a stellar reputation for reach, reliability, pricing and speed.

We pride ourselves on our unrivalled ability to source and distribute banknotes across the globe by leveraging Travelex’s global vault network, and in 2023 we look forward to building upon growing our client base to establish long-term partnerships across Europe, Asia, the wider MENA region and beyond.”

People In This Post

Companies In This Post

  1. Kanastra Raises $30 Million Series B from F-Prime to Spearhead Brazil’s Private Credit Infrastructure Development Read more
  2. I&M Bank Launches Tanzania’s First Mastercard World Elite Debit and Multi-Currency Prepaid Cards on OpenWay’s Way4 Platform Read more
  3. Sage Unveils Next-Generation, Integrated Cloud HR & Payroll Solution for Mid-Sized Businesses in South Africa Read more
  4. Atom Bank Bolsters Family Support By Increasing Maternity and Paternity Leave Read more
  5. EXCLUSIVE: “To Boldly Go…” – Toine van Beusekom, Icon Solutions in ‘Discover Sibos 2025 Read more
FTWLondon 2025 - Vertical Marketing Toolkit visual 1080x1920 (1)