Foreign exchange company Travelex has onboarded more than 50 wholesale customers in Canada during its first year of trading in the region, as it targets further expansion across the country’s Forex and financial services sectors.

Since launching its Canadian wholesale operation in October 2025, Travelex has built a customer base spanning FX operators and money services businesses (MSBs) across Ontario, Quebec and British Columbia. During this time, the business has traded 56 currencies, while providing customers with access to around 80 currencies through Travelex’s extensive global network.

Travelex has also established relationships with major liquidity and currency supply partners including Bank of America and Scotiabank, while leveraging its own global supply network to source currencies from markets including the UK, Singapore and the UAE.

Demand has largely been driven by Canadian outbound travel, including both holidaymakers and expatriate communities travelling overseas, while increased inbound travel to Canada during 2026 has created additional opportunities across both the buying and selling of foreign currency.

“Welcoming more than 50 customers in our first year demonstrates both the strength of demand and the significant potential of Canada’s wholesale foreign exchange market. Our success has been built on combining strong local relationships with the scale, expertise and supply capabilities of Travelex’s global network. This allows us to give customers access to a broad range of currencies, backed by the service and reliability they expect from a leading wholesale partner,” said Davish Bucktowar, Wholesale Trading Director at Travelex.

As it enters its next phase of growth in Canada, Travelex has also begun rolling out TravelNet, its proprietary self-service ordering platform, to customers across the market. Sitting alongside existing dealing channels including phone and email, TravelNet gives customers greater control over foreign currency ordering and pricing while providing a faster and more efficient digital ordering experience.

“We are excited to continue growing our MSB customer base while building new relationships with credit unions, financial institutions and banknote wholesale customers across the country.

“TravelNet will be an important part of that growth, giving our partners greater control over their ordering while we continue to invest in our supply chain and expand the services we can offer,” Bucktowar added.