Epicentres of Online Money Transfer - Newmarket and Toronto Edition

Newmarket is part of the Greater Toronto Area, Canada's most populated city, and home to the original XE offices.

Xe Corporate North America

April 26, 2019 4 min read

Newmarket and Toronto, Canada aren't quite as culturally opposed as the fabled Country Mouse and City Mouse, yet they are markedly different in size.

The previous article in this series was about the home of the newest XE office - Austin, Texas, the 11th most-populous city in the US of A.

Newmarket is part of the Greater Toronto Area, Canada's most populated city, and home to the original XE offices.

Fun Facts About Newmarket

  • Newmarket is the birthplace of world-renowned actor, comedian, artist, and impressionist Jim Carrey, and also of legendary comedic actor John Candy.

  • Newmarket is known as "The Heart of York Region," which is a vibrant, diverse cluster of nine municipalities north of Toronto.

Newmarket - The Birthplace of the XE Company, Brand and Mission

The town of Newmarket, in southern Ontario is only about a tenth of the size of Austin, but it was, and continues to be the home of the very first XE office. XE was founded in 1993 (originally under the name Xenon Laboratories) by Beric Farmer and Steve Dengler, who attended St. Andrew's College together in nearby Aurora.

XE was born in the basement of a farmhouse on the outskirts of Newmarket. In 1995, the company moved to the financial district of Toronto about 65 kilometres away, only to return about six years later. As our company and website grew rapidly over our 25-year history.

Our website and digital services are able to perform and scale to manage ever-increasing volumes of traffic because our technology teams embraced emerging technology platforms such as cloud services, mobile applications, and web services APIs to source, process, and present the latest currency exchange data from over one hundred trusted currency data sources from around the world.

XE Toronto

Following XE's acquisition by Euronet Worldwide in 2015, we have an office in Toronto again, which supports a team made up of client relationship managers, financial risk and regulatory compliance experts, professionals, and corporate foreign currency traders.

Some historians believe that "Toronto" was derived from a word which meant "where there are trees in water", while others claim it means a "meeting place". The city of Toronto is rich with multicultural diversity, and its population consists of many expats from the UK, Greece, Italy, Portugal, China, and South Asia. Toronto trails only Miami as far as percentage of foreign-born residents, but has no dominant origin.  

Want to Check Exchange Rates or Make Money Moves?

The XE.com Universal Currency Converter was launched in 1995, and rapidly became one the go-to resource for currency exchange data for:

  • Travellers

  • Expats

  • Multinational import, export and technology-centric businesses

  • Journalists

  • Currency investors and economic analysts

  • Everyone else striving to live their best international life

XE Currency Data (XECD) is available on a subscription basis to technology companies and niche online publishers via a powerful API. Companies can also display the XE Currency Converter widget on their website, and direct their audience to the website for the world's most trusted mid-market exchange rates.

If you are interested in offering international currency rates on your own website to extend your digital solution, you can email our XECD Client Relationship Manager for onboarding assistance.

Are you an investor or business executive, looking for assistance with a sizable foreign currency transfer, or advice on how to capitalize on fluctuating exchange rates?

Contact the XE North America Corporate Services Desk to discuss your unique needs. For personal international money transfers, please visit our website here.

Please note:

The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade.

XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

While we take reasonable care to keep the information on the website accurate and up to date, there may be occasions when this is not possible. Case Studies and articles are not intended to predict future moves in exchange rates or constitute advice. XE makes no representations, warranties, or assurances as to the accuracy or completeness of any information derived from third party sources. If you are in any doubt as to the suitability of any foreign exchange product that you are intending to purchase from XE, we recommend that you seek independent financial advice first.