StoneX Group, the New York-based financial services company, has announced a strategic partnership with Bamboo Payment Systems to strengthen its cross-border payment capabilities in Latin America.
The company will make an undisclosed investment in Bamboo as part of the deal. The partnership aims to improve foreign exchange pricing, settlement reliability and cash flow efficiency for global merchants and financial institutions operating in the region.
StoneX Payments, which offers settlement options in more than 140 currencies across 180 countries, will combine its foreign exchange (FX) expertise with Bamboo’s proprietary platform, which connects to over 600 local banks and financial institutions throughout Latin America.
Bamboo’s proprietary payment platform is connected to more than 600 local banks and financial institutions, across 11 countries in the region.
Thiago Vieira, global head of StoneX Payments, said the partnership would “set a new standard in global payment services” by combining the companies’ respective strengths.
In reciprocal benefit, StoneX will gain immediate access to this regional foundation, while Bamboo will benefit from enhanced international banking relationships. Revenue can be unlocked regarding FX pricing and settlement efficiency.
The partnership remains subject to regulatory approval, with financial terms undisclosed.
