​StoneX Expands Operations in India with IIBX Membership

​StoneX Group is significantly enhancing its footprint in India, having recently joined the India International Bullion Exchange (IIBX) and opened new offices in the region. Since its entry into the Indian market in 2019, StoneX has seen substantial growth, now employing over 550 staff as part of a global workforce exceeding 4,300.

Greg Kallinikos, CEO for the Asia-Pacific region, commented on the strategic expansion, noting that India's status as a leader in technological innovation makes it an ideal location for StoneX's operations. He highlighted the robust talent pool in the financial services sector, which has been instrumental in establishing Global Capability Centres in Bengaluru and Pune.

Additionally, StoneX has commenced operations in the Gujarat International Finance Tec-City (GIFT City) since June 2024, focusing on trading precious metals. This move aligns with their broader strategy to tap into India's growing financial landscape.

In a separate business development, StoneX has made headlines with a $480 million unsolicited bid for UK-listed CAB Payments, representing a significant premium to its current share price. This proposal was submitted shortly after CAB's public listing.

Moreover, StoneX Financial Ltd has formed a partnership with NatWest Group to enhance its international payments capabilities. This collaboration enables StoneX Payments to leverage NatWest's delivery and foreign exchange services, facilitating smoother cross-border transactions for clients and expanding their market reach. Overall, these initiatives underscore StoneX's commitment to growth and innovation in the Indian market.