ForexQ.com
ForexQ.com
Payment institution · United States
According to its official website, Lorum is a financial infrastructure company that acts as a correspondent institution for banks and fintechs, providing programmable access to global clearing, named custody accounts and treasury services on a non-lending, 100% reserve model. The website says it offers clearing through local payment rails in USD, EUR, GBP and AED, operational and client money accounts opened for clients' customers, wholesale foreign exchange, liquidity sweeping and yield on idle balances, that it serves more than 150 clients, has processed more than USD 100 billion and holds 5 financial licences. Its clients are banks, payment service providers, digital asset platforms and digital platforms. The website says it is operated by Lorum Group Holdings Inc., based in New York. The DIFC-incorporated Lorum Finance (DIFC) Ltd is authorised by the DFSA (F009516, 4 Jun 2024); the website says Lorum does not serve retail customers or customers operating in mainland UAE, and its DFSA endorsements do not include the retail client endorsement. Details of the other licences are not given on the website. This information is the company's own statement.