StoneX Announces Acquisition of Banco Travelex
StoneX Group Inc. has entered into an agreement to acquire Banco Travelex S.A. The deal will expand StoneX’s foreign exchange and global payments capabilities in Brazil. Banco Travelex is Brazil’s first bank dedicated to foreign exchange operations. StoneX expects the acquisition to strengthen its presence in one of Latin America’s largest foreign exchange markets.
Expanding StoneX’s Business
The acquisition will let StoneX’s global clients hold local and foreign currency bank accounts in Brazil. It will also expand the company’s wholesale banknote trading services. StoneX’s foreign exchange and cross-border payments business currently operates in more than 180 countries and 140 currencies. After the acquisition closes, the business will begin adding banking products in Brazil.
These products will include:
- Non-resident accounts
- Proprietary PIX services
- Internet and mobile banking
- New financial settlement capabilities
The new capabilities will complement StoneX’s existing services in spot FX, international payments and receivables, and NDFs.
Transaction Scope
The acquisition covers Banco Travelex S.A. exclusively. StoneX expects the transaction to close within 12 months. It is subject to approval from the Central Bank of Brazil and other customary closing conditions. Banco Travelex’s retail foreign exchange operations are not part of the deal. Its physical stores and service points linked to Confidence will also remain outside the transaction.
These operations will persist independently and may retain the Travelex Confidence brand. StoneX and Banco Travelex will integrate the acquired business gradually. They do not expect any service interruption and plan to preserve existing client relationships. They will communicate each stage of the integration to clients.
What Executives Say
Glauco Monte, CEO of StoneX Brazil, said the transaction supports the company’s long-term investment and growth plans in Brazil. He explained that the acquisition will give clients more options within global payments and also mix StoneX’s broader financial platform with specialized local services.
Thiago Vieira, Global Head of StoneX Payments, also linked the acquisition to StoneX’s wider expansion strategy in Latin America. He said the deal, together with StoneX’s recent investment in Bamboo Payments, will help the company expand its licensed, in-country payments infrastructure across the region.
Vieira also highlighted Brazil’s role in this strategy. He described the country as a blueprint for expanding StoneX’s regulatory footprint across other emerging markets. The acquisition will let StoneX bring its global reach to Banco Travelex customers. Also, it will offer Banco Travelex’s new capabilities to StoneX’s financial institutions, international corporates and global merchants.
Ana Tena, CEO of Banco Travelex, said the acquisition represents the next step in the bank’s development. She pointed to the combination of Banco Travelex’s specialized local services and StoneX’s global reach. According to Tena, the deal will give Banco Travelex clients access to greater capabilities and maintain the specialization.
About StoneX
StoneX Group Inc. is a global financial services company. The company provides institutional and retail clients with access to global markets through services such as foreign exchange trading, securities execution, clearing and custody, commodities trading, risk management, global payments, and market intelligence. StoneX connects clients to financial, commodity, and derivatives markets through its trading platforms and infrastructure.
About Banco Travelex
Banco Travelex began in 2010 as Banco Confidence. Marcus Schalldach and Paulo Della Volpe founded it to provide foreign exchange services in Brazil. It became Brazil’s first bank dedicated exclusively to FX operations and regulated by the Central Bank. The bank provides foreign exchange and international payment services for individuals and businesses, including cross-border transfers, international payments, import and export transactions, eFX and banknote trading.
Wrapping Up
The acquisition will expand banking, FX, and payments capabilities in Brazil. The deal will add local banking products to StoneX’s existing global payments business and give Banco Travelex access to StoneX’s international reach.
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