StoneX Group’s Payments Division has formed a strategic partnership with Bank Mendes Gans (BMG) to enhance the Dutch bank’s cross-border payment capabilities, particularly in thinly traded currencies.
StoneX Partners with Bank Mendes Gans to Boost Cross-Border Payments
The alliance will see BMG leverage StoneX Payments’ technology platform and settlement network, giving it access to over 375 correspondent banks and payment endpoints across 180 countries.
The partnership is designed to improve payment efficiency, reduce reliance on intermediary banks, and expand access to underserved markets.
StoneX Payments will facilitate foreign exchange and payment processing in more than 140 currencies through its API-driven system, including its new proprietary payment engine, XPay.
The integration is expected to enable faster settlement times, greater transparency, and validation of transaction data for BMG’s international clients.
Thiago Vieira, global head of StoneX Payments, said the partnership “is another meaningful step on our journey to build products and services that facilitate money movement and payment distribution for international organisations globally.”
“Through our proven infrastructure, and powered by our state-of-the-art, proprietary new payment engine, XPay, we now have the privilege of serving over 85 banking institutions,” added Vieira.
Niels van Tol, head of business development at BMG, commented that the “represents a substantial evolution in the services we offer to our clients.”
He added that StoneX’s global network and innovative infrastructure will allow the company to broaden its liquidity management capabilities with new currencies and “deliver enhanced flexibility and transparency in international transactions.”
