Financial services provider StoneX Group announced it has finalized the acquisition of Frankfurt based Giroxx and as of 1 October 2020 will operate under the name StoneX Financial GmbH.
StoneX’s London-based subsidiary INTL FCStone Ltd., now StoneX Financial Ltd agreed to acquire Frankfurt fintech Giroxx GmbH in the beginning of the year. The acquisition became legally effective in May and with the name change to StoneX Financial GmbH, Giroxx is now officially integrated into StoneX’s larger Global Payments Division.
Carsten Hils, Global Head of the Global Payments Division of StoneX, commented:
Giroxx’s final transition to StoneX Financial GmbH marks the completion of the acquisition we signed earlier this year. We’re excited to incorporate their industry leading SME capabilities as part of StoneX’s Global Payments Division’s offerings in order to best meet the payments needs of this underserved market segment both in Germany and around the globe. Ultimately furthering StoneX’s overall goal of becoming an innovative and digitally focused financial services provider.