Foreign exchange marketplace CurrencyFair has released an app for iOS and Android which it claims is the world’s first truly p2p (peer-to-peer) currency exchange app.

The app displays live exchange rates for the user’s chosen currency, alongside the real exchange rate margin (the amount over the interbank exchange rate that the user is being charged for the currency).

Users can also open an account through the app, and use the app to take a photo of their identity documentation and upload it as part of the new account set-up. The app also offers an exchange history to view details of currency exchange transactions.

The app can be used for the peer-to-peer exchange of 15 currencies, including the Euro, UAE Dirham, Australian Dollar, Canadian Dollar, Swiss Franc, Czech Koruna, Danish Krone, Pound Sterling, Hungarian Forint, Norwegian Krone, New Zealand Dollar, Polish Zloty, Swedish Krona, US Dollar and the S. African Rand. It can also be used to buy Israeli Shekels, Hong Kong Dollars and Singapore Dollars.