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May 17, 2013

Money exchange firm expands to Maine

A subsidiary of the international foreign exchange provider OZForex announced its expansion into Maine this week in the company's first venture into northern New England.

USForex announced in a press release that it has received licenses to operate in Maine and Connecticut as part of larger expansion plans that include 15 other states. The company currently has operations in 16 states and four others where licensing is not required.

The company says it's targeting small- to medium-sized importers and exporters with its online or phone-based system for making international money transfers.

The company, launched in 1998, is now owned by the Sydney, Australia-based Macquarie Bank, the Palo Alto, Calif.-based venture capital firm Accel Partners and the private equity firm The Carlyle Group.

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