StoneX Financial Ltd. Finalizes Its Acquisition of Bafin Regulated Giroxx

StoneX Financial Ltd.​, a subsidiary of StoneX Group Inc. (previously INTL FCStone Inc.) has finalized its acquisition of Giroxx, a Bafin regulated FinTech operating in the digital payments industry.

The transaction commenced in this January and became legally effective in May. With its finalization, the German company has been operating under the name StoneX Financial GmbH as of October 1st.

"Giroxx's final transition to StoneX Financial GmbH marks the completion of the acquisition we signed earlier this year," commented Carsten Hils, Global Head of StoneX's Global Payments Division. "We're excited to incorporate their industry leading SME capabilities as part of StoneX's Global Payments Division's offerings to best meet the payments needs of this underserved market segment in Germany and worldwide."

Giroxx provides online payment and forex hedging services to small and medium enterprises (SMEs) through digital platform and has expanded its presence from Germany to Austria and Switzerland. The acquisition of Giroxx can bring a number of benefits to StoneX's Global Payments Division, enabling them to serve a large customer base of NGOs, financial institutions, and corporates and extend their business to SMEs.

Klaus Hoffmann and Jörg Sonnenschein, founders of Giroxx and current Managing Directors of StoneX Financial GmbH, added, "We are proud that Giroxx will be finally integrated into this well-known financial group as StoneX Financial GmbH. Under such a strong international brand we will be able to expand the range and products for our customers in Germany and throughout Europe."