StoneX Payments and Bamboo Partner to Expand Cross-Border Payment Coverage in Latin America
NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (("StoneX", NASDAQ:SNEX) and Bamboo Payment Systems ("Bamboo") announce that StoneX Payments, a division of StoneX, and Bamboo have entered into a strategic partnership to expand cross-border payment offerings and coverage for global merchants. The partnership includes an undisclosed investment by StoneX. Together, the two companies will offer a leading solution for global merchants and financial institutions that need to collect and make payments in Latin America.
With StoneX Payments' broad foreign exchange capabilities and correspondent network and Bamboo's extensive payment connections and platform, clients should see benefits in terms of FX pricing, more reliable settlement, improved acceptance rates, and greater cash flow efficiency.
StoneX Payments is a market leader in cross-border payments, providing payment services to financial institutions, corporations, and international development organizations in over 180 countries. Through its correspondent network of over 385 banks, StoneX offers settlement capabilities in over 140 currencies.
Bamboo brings deep expertise in the Latin American payment ecosystem, enabling global merchants to accept and make payments in the region. With a proprietary payment platform connected to more than 600 local banks and financial institutions, Bamboo offers an end-to-end solution for payins and payouts, bridging the gap between global merchants and local consumers and businesses. The company enables payments in 11 countries in the region, supporting over 200 payment methods, and serves a growing network of more than 500 clients and partners.
Thiago Vieira, Global Head of StoneX Payments, commented:
"Over the past two years, we have made pivotal strategic investments to scale our global, market-leading payment capabilities. We are thrilled to announce this new partnership with the exceptional team at Bamboo, which brings together best-in-class solutions to set a new standard in global payment services."
Clayton McDonald, Head of Americas, StoneX Payments, said:
"We are excited about our partnership with Bamboo. The combination of our 30 years of foreign exchange payments expertise with their platform and network of over 200 payment methods in Latin America creates a unique solution for global merchants operating in the region. As demand for reliable payment solutions with a competitive and transparent FX component continues to grow, we believe our product offering will represent a substantial value-add in the market."
Marcelo Perez, CEO of Bamboo, said:
"This partnership is a key step in expanding the reach of our payment solutions to support global merchants looking to grow in Latin America. By working with top financial institutions and leveraging our extensive payment network, we enable businesses to operate with confidence in the region. Collaborating with StoneX enhances our ability to provide efficient, secure, and flexible payment, money movement, and FX solutions that meet the evolving needs of merchants worldwide."
The transaction is subject to regulatory approval.
About StoneX Group Inc.
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders, and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service, and deep expertise. The company strives to be the trusted partner for its clients, providing its network, products, and services to help them pursue business opportunities, manage market risks, make informed investment decisions, and improve their business performance.
A Fortune 100 company headquartered in New York and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX and its more than 4,000 employees serve more than 54,000 commercial, institutional, and payments clients and facilitate transactions for more than 400,000 retail customers worldwide. Further information is available at www.stonex.com.
About Bamboo
Bamboo is a cross-border payments company that allows global merchants to accept and make payments in Latin America. Recently recognized by FXC Intelligence as one of The Global Most Promising Cross-Border Payments Companies of 2024, our proprietary platform enables pay-ins and payouts, covering more than 200 payment methods and connecting to a network of more than 600 banks and financial institutions. Bamboo combines local expertise with a single, end-to-end platform solution for consumer, business, and real-time payments. Further information on the company is available at www.bamboopayment.com.
For press inquiries contact Jonathan Kay at [email protected]
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