(RTTNews) – On Wednesday, StoneX Group Inc. (SNEX), a global financial services network, announced that it has entered into a definitive agreement to acquire Banco Travelex S.A., for undisclosed terms.
The transaction will significantly expand StoneX’s global payments capabilities in Brazil, enabling clients to hold local and foreign currency accounts and strengthening its wholesale banknote trading services.
Upon completion, StoneX will expand its Brazil banking services, including non-resident accounts, PIX, digital banking and enhanced settlement, complementing its existing FX and international payments businesses across 180+ countries and 140 currencies.
Banco Travelex, established in 2010, operates a regulated FX and international payments platform serving individuals and businesses. It was authorized as a multiple-service bank by Brazil’s Central Bank in December 2024.
The acquisition covers only Banco Travelex S.A. and is expected to close within 12 months, subject to regulatory approval. Travelex’s retail FX operations and Confidence-linked outlets are excluded and will continue independently.
In the pre-market activity on the Nasdaq, the shares were trading 0.80 percent higher at $66.50, after closing Tuesday’s trading 1.93 percent up.
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