Anyone who has ever sent or received payments between countries will know that the process is either expensive, complex or both.

PayPal, for example, is a really simple way to send money to someone, and it takes care of the currency conversion – but at a really terrible rate. Direct bank-to-bank transfers typically offer somewhat better rates, but setting up an international payment can be complex, and the rate you get usually ranges from the poor to the borderline criminal.

Other apps allow peer-to-peer payments, but usually through integrations with existing payment services that offer the same poor rates. Circle Pay claims to be different, offering mid-market rates (the same ones you’ll see if you Google the exchange rate) and no fees at all …

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