StoneX and Bamboo partner to boost Latin America payments

NEW YORK - StoneX Group Inc. (NASDAQ: SNEX), a global financial services firm with a market capitalization of $3.56 billion and impressive 65% return over the past year, has formed a strategic partnership with Bamboo Payment Systems to enhance its cross-border payment solutions in Latin America. According to InvestingPro analysis, StoneX maintains a GOOD financial health score, positioning it well for strategic expansion. The collaboration, which also includes an undisclosed investment by StoneX, aims to provide global merchants and financial institutions with improved foreign exchange pricing, settlement reliability, acceptance rates, and cash flow efficiency.

StoneX Payments, a division of StoneX, is recognized for its extensive foreign exchange capabilities and correspondent network, serving over 180 countries with settlement options in more than 140 currencies. Bamboo’s expertise lies in the Latin American payment ecosystem, with its proprietary platform offering connections to over 600 local banks and financial institutions. The partnership is poised to leverage both companies’ strengths, offering a comprehensive solution for pay-ins and payouts in the region.

Thiago Vieira, Global Head of StoneX Payments, expressed enthusiasm about the partnership, highlighting the combined best-in-class solutions that aim to set a new standard in global payment services. Clayton McDonald, Head of Americas at StoneX Payments, also emphasized the unique solution created by integrating StoneX’s three decades of foreign exchange payments expertise with Bamboo’s extensive payment methods network.

Marcelo Perez, CEO of Bamboo, remarked on the significance of the partnership for expanding the reach of their payment solutions and supporting global merchants’ growth in Latin America. He noted that collaborating with StoneX would enhance their capacity to provide efficient, secure, and flexible payment, money movement, and FX solutions.

The transaction is subject to regulatory approval, and further details regarding the partnership’s operational aspects and financial terms remain undisclosed. StoneX, which generated revenue of $107 billion in the last twelve months and trades at a P/E ratio of 12.7, demonstrates strong financial fundamentals. InvestingPro subscribers can access detailed financial analysis and 10+ additional ProTips about StoneX’s market position and growth potential.

StoneX Group Inc. is a Fortune 100 company headquartered in New York, providing a broad range of financial services to a diverse client base. Bamboo Payment Systems, recently recognized as one of The Global Most Promising Cross-Border Payments Companies of 2024 by FXC Intelligence, specializes in facilitating cross-border payments in Latin America. For comprehensive insights into StoneX’s performance metrics and future outlook, access the detailed Pro Research Report available exclusively on InvestingPro, covering what really matters about this prominent player in the Capital Markets industry.

This strategic move reflects both companies’ commitment to improving the payment infrastructure in a key emerging market and their dedication to meeting the evolving needs of global merchants and financial institutions. The information reported here is based on a press release statement.

In other recent news, StoneX Group Inc. reported first-quarter earnings that surpassed analyst expectations, with adjusted earnings per share reaching $2.54, compared to the estimated $1.94. Despite revenue coming in at $492.1 million, below the forecasted $849.2 million, net income rose by 23% year-over-year to $85.1 million. StoneX also announced a three-for-two stock split to take effect as a stock dividend in March 2025. In a strategic move to enhance its equity and debt capital markets services, StoneX has agreed to acquire The Benchmark Company, pending regulatory approval. The acquisition aims to bolster StoneX’s research and investment banking capabilities. Additionally, StoneX shareholders recently approved several key proposals, including the election of directors and an amendment to the incentive plan, which increases shares authorized for issuance. In executive compensation developments, StoneX entered into a new employment agreement with Group President Charles Lyon, outlining salary and bonus structures, while amending Sean O’Connor’s agreement to exclude him from the annual bonus program. These decisions reflect StoneX’s ongoing strategic initiatives and shareholder engagement.

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