TransferWise launches U.S. money transfer service, eyes more markets

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By Jemima Kelly LONDON (Reuters) – British online money transfer business TransferWise launched its U.S. operation on Tuesday, the first step of an international expansion that will use $58 million in new backing to compete with the likes of Western Union and MoneyGram. TransferWise is among the biggest of a clutch of internet start-ups that have begun to challenge the dominance of the established companies and banks that provide money transfer services for ordinary consumers.

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TransferWise launches U.S. money transfer service, eyes more markets