StoneX, part of StoneX Group, has teamed up with Bamboo Payment Systems, specialising in the Latin American payment ecosystem, to expand cross-border payment offerings for global merchants.
The partnership, which also includes an undisclosed investment by StoneX, is subject to regulatory approvals.
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This collaboration will provide a solution for clients to manage payments within Latin America, leveraging StoneX Payments’ foreign exchange capabilities and Bamboo’s regional connections.
StoneX Payments specialises in facilitating international transactions, serving financial institutions, corporations, and international development organisations in over 180 countries.
With a correspondent network comprising over 385 banks, StoneX enables settlement in more than 140 currencies.
Bamboo’s expertise lies in enabling global merchants to conduct transactions in Latin America, also offering payins and payouts solution.
The company’s proprietary payment platform is connected to over 600 local banks and financial institutions.
Currently, Bamboo enables transactions in 11 countries across the region, supporting over 200 payment methods and serving a network of more than 500 clients and partners.
StoneX Payments global head Thiago Vieira stated: “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.”
StoneX Payments head of Americas Clayton McDonald 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.
Bamboo CEO Marcelo Perez 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.”
Earlier this month, StoneX Group agreed to acquire The Benchmark Company, which aims to strengthen StoneX’s offerings in equity and debt capital markets.
