Banking
Multi-currency account
A multi-currency account holds balances in several currencies and often provides local account details in multiple countries, allowing a business to receive payments as a local rather than through international transfer. Conversion typically occurs at rates closer to the mid-market rate.
In plain terms: One account that can hold and receive several currencies.
Why it matters
The practical bridge between a US company and a founder living elsewhere. It also removes forced conversion: if some costs are in dollars, holding dollars avoids paying a spread twice.
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