StoneX, Operator of FOREX.com, Targets Brazil FX Market with Banco Travelex Deal

StoneX Group has agreed to acquire Banco Travelex S.A., a Brazil-based bank specializing in foreign exchange and international payments. The move is part of StoneX's broader push to expand its regulated financial services footprint across Latin America.

The acquisition targets Banco Travelex only. Its retail foreign exchange business, physical branches and service locations tied to Confidence are excluded from the deal and will continue to operate independently. The transaction is expected to close within 12 months, pending approval from the Central Bank of Brazil and other customary closing conditions.

Expanding Local Banking

StoneX said the deal will strengthen local banking capabilities within its existing FX, international payments and receivables, and non-deliverable forwards businesses. After completion, it plans to offer banking services including resident and non-resident currency accounts, PIX payments, internet and mobile banking, and additional settlement services.

The acquisition will also let StoneX's international clients hold local and foreign currency accounts in Brazil and will support expansion of its wholesale banknote trading activities.

Banco Travelex has operated in Brazil since 2010, serving both individuals and businesses with foreign exchange and international payment services. The Central Bank of Brazil authorized the firm to operate as a multiple-service bank in December 2024.

The agreement follows recent expansion of StoneX's cross-border payments infrastructure. In 2025, StoneX Payments partnered with Bank Mendes Gans to extend access to its network across more than 180 countries and 140 currencies. In 2024, it partnered with NatWest to expand international FX payments, adding access to 10 currencies through StoneX's payments network.

StoneX operates FOREX.com within its Retail segment. The company acquired GAIN Capital, FOREX.com's former parent, in 2020, bringing FOREX.com and City Index under StoneX's retail business. FOREX.com offers forex and, in some markets, CFD trading to self-directed clients.