Ebury, a Santander-owned payments company, has expanded its scope of clientele and has been onboarding forex and contracts for differences (CFDs) brokers, Finance Magnates learned from an industry source in Cyprus.

Ebury Enters FX and CFDs Sector

The payments giant officially started to onboard FX and CFDs brokers in December 2023. It currently has more than 20 brokers on its platform, with over a dozen being active. Interestingly, Ebury only recently began pitching its services to FX and CFDs brokers and did not actively target the ones already onboarded.

For FX and CFDs brokers, the payments platform offers IBANs in 20 countries, FX hedging and spots, Swift GPI tracking, and corporate cards. It is also said to be expanding its services next year, adding more products.

Finance Magnates reached out to Ebury for official confirmation on its servicing of FX and CFDs brokers but has not received a response as of press time.

Expansion in Progress

Headquartered in London, Ebury provides international payment, FX, and risk management solutions across over 130 currencies. Founded by Juan Lobato and Salvador García, the company has grown to employ more than 1,700 workers globally.

Earlier this year, Ebury launched banking services in Brazil alongside its operations in Chile. It also entered the African market via an acquisition in South Africa. To target brokers in Cyprus, the payments giant established an office there last November.

The UK-headquartered company is also onboarding brokerages under multiple licenses, depending on their operational jurisdictions. It operates with licenses in multiple countries, including the United Kingdom, Belgium, the United Arab Emirates, Hong Kong, Australia, and others.

Meanwhile, Ebury revealed earlier its plans to hold an initial public offering. A Financial Times report indicated that the payments group has appointed Goldman Sachs to lead its planned £2 billion public listing.