Two years ago, at the height of Internet frenzy, the sensible money – that is, the Old Economy money – would have been on Currenex to be the first to fail among the three main emerging FX trading portals. Visitors to the company’s headquarters, just outside San Francisco, were left with the impression of the short-haired hippieness of the era: ‘quality’ (ie., Starbucks) coffee, chinos, open-plan offices with searing ceilings in a fashionably clean warehouse location. No chance of competing in the London-based currency marketplace.

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