StoneX Group has entered into a definitive agreement to acquire Banco Travelex, expanding its payments and foreign exchange capabilities in Brazil and adding regulated banking infrastructure in one of Latin America’s largest FX markets.
Banco Travelex is Brazil’s first bank dedicated exclusively to foreign exchange operations regulated by the Central Bank of Brazil. The company has operated since 2010 and was authorized in December 2024 to operate as a multiple-service bank.
The acquisition is expected to expand StoneX’s global payments capabilities and allow clients to hold local and foreign currency bank accounts in Brazil.
Following completion, StoneX plans to add banking products including non-resident accounts, proprietary PIX capabilities, internet and mobile banking, and additional financial settlement services.
The new capabilities will complement StoneX’s existing offerings across spot foreign exchange, international payments and receivables, and non-deliverable forwards.
StoneX’s cross-border payments and foreign exchange business currently operates across more than 180 countries and 140 currencies.
The deal also extends StoneX’s broader effort to build licensed, in-country payments infrastructure throughout Latin America.
StoneX recently made a strategic investment in Bamboo Payments, and the company sees the Banco Travelex acquisition as another step toward expanding its regulatory and payments footprint across emerging markets.
Banco Travelex serves both individuals and businesses with foreign exchange and international payments services.
The acquisition covers Banco Travelex exclusively. Travelex’s retail foreign exchange operations, physical stores and Confidence-related service locations are excluded and will continue operating independently.
Integration is expected to take place gradually without service interruptions.
The transaction is expected to close within 12 months, subject to Central Bank of Brazil approval and customary closing conditions.
StoneX is a Fortune 100 financial services company with more than 4,000 employees. The company serves more than 54,000 commercial, institutional and payments clients and facilitates transactions for more than 400,000 retail customers worldwide.
KEY QUOTES:
“This transaction reinforces StoneX’s commitment to long-term growth and investment in Brazil and expands the possibilities for our clients in global payments, building an increasingly complete ecosystem supported by local, specialized service.”
Glauco Monte, CEO Of StoneX Brazil
“Together with our recent strategic investment in Bamboo Payments, this transaction advances StoneX’s strategy to expand its licensed, in-country payments infrastructure across Latin America. Brazil has long been central to that strategy, serving as a blueprint for the continued expansion of our regulatory footprint across emerging markets.”
“We look forward to bringing StoneX Payments’ global reach to Banco Travelex’s customers, while extending Banco Travelex’s exciting new capabilities to our growing client base of financial institutions, international corporates and global merchants.”
Thiago Vieira, Global Head Of StoneX Payments
“We built Brazil’s first foreign exchange bank and, at the end of 2024, obtained authorization to operate as a multiple-service bank. Joining that trajectory with StoneX’s global reach is the natural next step: more capability for our clients, with the same specialization and proximity that brought us here. The transaction with StoneX reflects the strategic fit between the two platforms.”
Ana Tena, CEO Of Banco Travelex
