StoneX Group Expands Foreign Exchange Offering in Brazil

StoneX Group Inc. (StoneX), an institutional-grade financial services network, announced that StoneX Banco de Câmbio S.A., the wholly-owned subsidiary of StoneX Group Inc. in Brazil, is expanding its FX offering by providing access to FX Online, where clients can execute transactions through the StoneX global payments network. The expansion provides Brazilian clients an additional channel to process payment via StoneX, giving them more chances to participate in foreign exchange market.

FX Online allows clients to process payment requests using real-time market exchange rates. Utilizing real-time data, FX Online reduces trade time and costs of execution, and enables timely identification of process errors during manual operations. Additionally, FX Online automates document documentation and pricing operations, ensuring a structured and smooth execution process. Through FX Online, customers can also obtain additional supporting documentation and track payment flows.

"FX Online is a major development in giving our clients more control over, and transparency into, the currency exchange process. This best-in-class technology will undoubtedly enhance the client experience and allow them to access even more of the products and services StoneX has to offer," said Fernando Mazzanti, Commercial Director of StoneX Banco de Câmbio S.A.. "FX Online is the type of full service offering that StoneX clients expect. With tens of thousands of clients already onboarded we are excited to continue delivering valuable services to those in Brazil."

In addition to Brazil, StoneX is also targeting the Asia-Pacific region for expansion. In July, the broker announced the launch of institutional credit products in Asia​, expanding the global debt capabilities of its fixed income group into the APAC region. Furthermore, StoneX has established a fixed income sales and trading unit in Singapore and has planed to expand into Australia and Hong Kong.