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Kruma Currency Exchange

Banking and Currency Exchange for Travelers βœˆοΈπŸ’΅πŸ’ΆπŸ’·

Kruma Currency Exchange

Banking and Currency Exchange for Travelers βœˆοΈπŸ’΅πŸ’ΆπŸ’·

Kruma is a mobile app that allows users to exchange their currency for an affordable rate, then simply spend the exchanged money on a Kruma virtual or plastic cardπŸ’³ while they travel.

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I liked the idea and the interface of the website however, I would like to know how the coin exchange process would work, please?
*Let's say I'm in the US and I'm originally from Mexico, I have pesos and I want to buy dollars. How does this process work? Should I have my bank account connected to Kruma? How do the rates work? How long does the exchanging coin process take?
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@RenatoRotsztejn
Hello Renato,
That is an excellent question. Kruma works in a few easy steps.
After signing up for your Kruma account, you can fund your primary wallet (in your case MXN) using your bank debit card or via a funds transfer from your bank (ACH or SWIFT wire)

Next, you simply chose the currency you want to exchange your money to and how much you wish to exchange. We show you the real-time True Exchange rate. When you submit your exchange, your currency is converted in real time and the funds are available for you to spend immediately on your Kruma virtual or plastic debit card. The virtual debit card is a multi-currency card which allows you to access USD, CAD, EUR, and GBP as a base currency. This allows you to spend in any of those currencies without incurring any additional FX transaction fees.

We are also working on allowing you to access your exchanged currency via a Mobile Money Wallet or through Apple Pay and Google Pay.

Kruma uses the True Exchange rate also referred to as the mid-market or interbank rate. This rate is the mid-point between the buy and the sell prices of the two currencies to an exchange rate – what the buyer is prepared to pay and what the seller is prepared to sell for. It is considered the fairest and best exchange rate and is the rate you can find via sources like Google and Yahoo Finance or XE.

Most banks and forex brokers apply an additional markup or spread to the mid-market rate. Kruma doesn't do that. You get the same excellent rates that banks often reserve for themselves.

Please let us know if you have any additional questions.

Thank you,
Kruma Team
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@krumaco Thanks for the answering! Are you operating in Brazil? i'm from here but I'm always traveling abroad and I believe what you are doing could solve my problems to buy currencies.
*Also, can I buy different currencies, in this case with my coin (reais), having different currencies on my wallet and card to use?
And can I buy dollars and with these dollars than buy pesos, for example?
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@RenatoRotsztejn
Hi Renato,
We will be launching our beta in Canada, the U.K then Mexico with 4 currencies (USD, CAD, GBP, EUR and MXN). We hope to quickly expand to other countries after our launch and Latin America and Africa are two regions we believe our product is very much needed.

The Kruma app will allow you to hold multiple currencies in multiple wallet wallets on one app and buy and sell from any of those currency wallets. The beta app will allow you to have the aforementioned 5 currency wallets. Our technology partnerships allow us to extend up to 25 currencies so we plan to quickly add more currencies as we grow.

Thank you,

Kruma Team

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