StoneX Agrees to Acquire Brazil FX Bank Banco Travelex

StoneX Group has signed an agreement to acquire Banco Travelex S.A., a Brazilian bank focused on foreign exchange and international payments.

The financial terms were not disclosed. The transaction is expected to close within 12 months, subject to approval from the Central Bank of Brazil and other customary conditions.

Deal Expands StoneXs Brazil FX Operations

Banco Travelex has operated in Brazil since 2010 and was initially established as a bank specialising in foreign exchange. In December 2024, the Central Bank of Brazil authorised it to operate as a multiple-service bank.

The acquisition would give StoneX access to additional local banking infrastructure alongside its existing foreign exchange and cross-border payments business.

Planned services include local and foreign currency accounts, non-resident accounts, PIX payments, digital banking and additional settlement capabilities in Brazil.

Retail FX Operations Are Not Included

The transaction covers Banco Travelex itself but excludes certain retail foreign exchange activities, including physical stores and related service points.

Those operations will remain outside the acquisition.

StoneX said integration of the bank would take place gradually after regulatory approval, while existing services would continue during the transition.

Regulatory Approval Still Required

The deal has not yet been completed and remains subject to approval by Brazils central bank.

Until the regulatory process is finished, Banco Travelex will continue operating under its existing structure.

The transaction adds to consolidation in the foreign exchange and payments sector as financial groups seek locally licensed infrastructure in major markets rather than relying only on cross-border arrangements.

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