StoneX Payments has entered into a partnership with Bank Mendes Gans (BMG) to strengthen cross-border transactions. The deal will give BMG access to StoneX’s API-driven platform, reportedly enabling payments in more than 140 currencies and 180 countries.
Access to Wider Network
Through the agreement, BMG clients will gain access to StoneX’s network of over 375 correspondent banks and payment providers. The integration is designed to improve settlement times, data validation, and transparency, while reducing reliance on intermediary banks.
“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,” said Thiago Vieira, Global Head of StoneX Payments. He added that the firm’s new payment engine, XPay, already supports more than 85 banking institutions.
New Currency Corridors
The collaboration will expand BMG’s global footprint by opening new currency corridors, including underserved and emerging markets. Clients are expected to benefit from improved foreign exchange rates and faster processing times.
For BMG, part of ING Group, the move strengthens its role in providing liquidity and cash management solutions. For StoneX, the partnership enhances its institutional client base as demand grows for streamlined cross-border payments.
Beyond payments , StoneX made a series of acquisitions early this year. The group announced the purchase of R.J. O’Brien & Associates, a U.S. futures brokerage firm, in a deal valued at an estimated $900 million in equity.
StoneX also bought The Benchmark Company, a New York-based investment banking firm. The move aims to enhance StoneX’s capabilities in investment banking, equity research, and capital markets advisory, reinforcing its position as a diversified financial services group while deepening access to U.S. capital markets.
In Europe, StoneX completed the acquisition of OctoFinances, a Paris-based fixed-income brokerage. The deal broadens StoneX’s offerings in bond and convertible sales, debt capital markets, and credit research, while strengthening its fixed-income division.
