StoneX Payments has entered into a partnership with Bank Mendes Gans (BMG) to strengthen cross-border transactions. The deal will give BMG access to StoneX’s API-driven platform, reportedly enabling payments in more than 140 currencies and 180 countries.

Access to Wider Network

Through the agreement, BMG clients will gain access to StoneX’s network of over 375 correspondent banks and payment providers. The integration is designed to improve settlement times, data validation, and transparency, while reducing reliance on intermediary banks.

“This partnership with BMG is another meaningful step on our journey to build products and services that facilitate money movement and payment distribution for international organizations globally,” said Thiago Vieira, Global Head of StoneX Payments. He added that the firm’s new payment engine, XPay, already supports more than 85 banking institutions.

New Currency Corridors

The collaboration will expand BMG’s global footprint by opening new currency corridors, including underserved and emerging markets. Clients are expected to benefit from improved foreign exchange rates and faster processing times.

For BMG, part of ING Group, the move strengthens its role in providing liquidity and cash management solutions. For StoneX, the partnership enhances its institutional client base as demand grows for streamlined cross-border payments.

Expect ongoing updates as this story evolves.

Source: Finance Magnates