Rate.am, in cooperation with IDBank, has launched the Rate.Trading digital platform, designed for currency exchange operations for individuals and legal entities. Users can track current exchange rates, choose a suitable offer, or independently specify their desired exchange rate. The operation is carried out after the bank accepts the application at the value specified by the user.
Ten currencies are available on the platform: Armenian Dram, US Dollar, Euro, Russian Ruble, Georgian Lari, UAE Dirham, British Pound, Chinese Yuan, Japanese Yen, and Swiss Franc. According to Gevorg Mamikonyan, director of rate.am, the specialized digital platform should simplify currency operations, increase their efficiency, and allow clients to save time.
Rate.Trading works not only through a web interface but also as a mobile application. In addition, the service is integrated into the Idram&IDBank application, from where users can proceed to currency operations directly from their smartphone. The company notes that the platform's development will include expanding functionality and introducing new tools for managing currency operations.
The creators of the service also link its launch with the further digitalization of financial services and increased transparency of the foreign exchange market. The platform is aimed at users who find it important to independently choose exchange conditions and conduct operations digitally. IDBank operates under the regulation of the Central Bank of Armenia.