During the pre-Seed stage, OCV companies are expected to operate predominately in USD. The companies are funded in USD, customer contracts are expected to be denominated in USD, expenses are incurred in USD. If the company has team members outside of the U.S., the EOR platform manages foreign currency exchange and charges the company in USD at the prevailing market exchange rate. In this respect, the company takes on foreign exchange rate risk when hiring outside of the U.S.
If and when a company expects large (6 - 7 figures) customer contracts and/or expenses in foreign currency, contact the Banking team to evaluate foreign currency management options.