Rational Foreign Exchange Enters Special Administration

Rational Foreign Exchange Limited (RationalFX), which provides foreign exchange and international payment services for corporate and retail clients, has entered on 29 November 2023 special administration under the Payment and Electronic Money Institution Insolvency Regulations 2021.

The directors of RationalFX stated that the company was insolvent, and applied to court for a special administration order. Ed Boyle and Kristina Kicks of Interpath Ltd have been appointed joint special administrators for the firm.

On the same day, the United Kingdom's Financial Conduct Authority (FCA) imposed an own initiative requirement on RationalFX which restricted the activities it can undertake.

In addition, a PSD Agent of RationalFX, Xendpay Limited, also entered administration at the same time.