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StoneX Group Inc. (NASDAQ: SNEX) has announced that its payments division, StoneX Payments, has entered into a strategic partnership with Bank Mendes Gans (BMG) to enhance cross-border payment capabilities.
BMG, part of ING Group and known for its liquidity and cash management solutions, will strengthen its payment infrastructure using StoneX Payments’ technology and expertise. The alliance will support BMG’s activities in thinly traded currencies, leveraging StoneX’s API-driven platform to deliver foreign exchange and payment processing across more than 140 currencies in 180 countries. The service is powered by a network of over 375 correspondent banks and alternative payment endpoints.
"This partnership with BMG is another meaningful step on our journey to build products and services that facilitate money movement and payment distribution for international organizations globally. Through our proven infrastructure, and powered by our state-of-the-art, proprietary new payment engine, XPay, we now have the privilege of serving over 85 banking institutions. We are thrilled to collaborate with such a respected partner in the industry and to support BMG in delivering enhanced value to their clients." – Thiago Vieira, Global Head Of StoneX Payments
The integration is expected to reduce friction in global payment flows by introducing faster settlement times, FX transparency and reduced dependence on intermediary banks. Clients will benefit from improved data validation, competitive rates and access to emerging and underserved markets.
"Our collaboration with StoneX Payments represents a substantial evolution in the services we offer to our clients. StoneX’s global network and innovative infrastructure will allow us to broaden our liquidity management capabilities with new currencies and deliver enhanced flexibility and transparency in international transactions. We are confident this partnership will bring significant benefits to our clients navigating the complex global payment ecosystem." – Niels van Tol, Head Of Business Development At Bank Mendes Gans
StoneX Payments currently serves more than 85 banking institutions worldwide. The company operates within the broader StoneX Group, a Fortune 500 firm providing trading, execution and financial services to more than 54,000 commercial, institutional and payments clients globally.
