# Stripe reduces FX costs for global businesses

Multicurrency settlement and instant currency conversion simplify financial operations.

- **Source:** [Stripe Blog](https://stripe.com/blog)
- **Published:** 2026-08-17
- **Topic:** [Finance](https://brifing.si/c/finance)
- **Original article:** <https://stripe.com/blog/reduce-fx-costs-with-stripe>
- **On Brifing:** https://brifing.si/s/0fe43e01-27fc-4bac-97fa-f03b0c6c4cb6

## FX costs for global businesses

The fastest-growing companies on Stripe are going global earlier than their predecessors. Cross-border payment volume has grown over 40% annually since 2018. However, this growth comes with the expensive and complex operational challenge of managing multiple currencies. Businesses fall into the double FX trap, paying conversion fees twice.

## The double FX trap

Businesses pay conversion fees twice: once to convert payments into their home currency, and again when converting funds to pay payroll, vendors, or operating expenses in foreign currencies. This increases FX costs. Additionally, businesses face delays and hidden markups when conversions are necessary.

## Multicurrency settlement

Stripe announced two new features to simplify FX management for global businesses. Multicurrency settlement is expanding to more markets and currencies. By the end of 2026, businesses in 37 markets, including Australia, Hong Kong, and Singapore, will be able to settle payments in up to 18 currencies.

## Instant currency conversion

Stripe introduced instant currency conversion. Businesses can convert funds between 15 currencies at transparent, market-leading prices through the Stripe Dashboard, API, or mobile. Additional currencies will be added in 2026. This feature offers 24/7 conversion without hidden markups or weekend surcharges.

## Automated conversions

The instant currency conversion API enables automated conversions for businesses with complex currency workflows. Platforms can use this API to distribute and monetize currency management capabilities for their merchants. Businesses convert funds multiple times within 60 days of their first conversion.

## Examples from Canva and Voodoo

Companies like Canva and Voodoo have high-volume multicurrency needs for vendor payments, payroll, and operating expenses. Stripe helps them avoid the double FX trap and simplifies currency management. Voodoo settles incoming US payments in euros, avoiding FX costs while scaling its business.

## Usage by global platforms

Global platforms and marketplaces like Kustom and Turo use Stripe Connect to manage cross-border payouts more efficiently. These tools ensure compliance while staying out of the flow of funds. Voodoo maintains scalability by converting revenue from US customers into euros.

## Stripe's future plans

Stripe will continue to expand multicurrency settlement and instant currency conversion features through 2026 and 2027. Additional markets and currencies will be added by the end of this year. Businesses can start using these features by adding settlement currencies from the Balances page of the Stripe Dashboard.

## Sources covering this story

- https://stripe.com/blog/reduce-fx-costs-with-stripe — 

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_Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._