StoneX expands into digital payments

StoneX, a provider of cross-border payouts to emerging markets, will leverage its global client relationships, cross-border capabilities, and in-country payments services to provide a fully integrated offering.

Company officials stated that they recognise that although they are providing cross-border FX payout solutions, their clients have other payments needs that the company plans to address with these new capabilities.

StoneX Payment's clients are faced with challenges when facilitating payments in emerging markets, and as a result the fintech is launching this initiative to address these needs, according to the press release. The company will be developing a digital solution for global institutions and corporates to set themselves up to accept local payments. These new services will allow them to focus on growing their core business and drive customer engagement.