StoneX Acquires Wholesale Banknotes Business WCS International
StoneX Group has agreed to acquire WCS International, a UK-based wholesale banknotes trading and distribution business.
The move forms part of StoneX’s wider strategy to strengthen its position in physical currency services for financial institutions, money service businesses and corporate clients.
The company said the acquisition will add a complementary product and increase capabilities alongside its existing cross-border payments business.
WCSI, which launched in 2022, provides wholesale banknote trading services to banks and other financial institutions. It is led by Angela Smith, the former Head of Wholesale Banknotes at Travelex.
Commenting on the transaction, Thiago Vieira, Global Head of StoneX Payments, stated: “This acquisition strengthens StoneX’s financial institutions ecosystem by adding a highly complementary capability to our leading payments and cross-border business.
“Furthermore, the transaction will leverage our capabilities in global metals operations and logistics.”
The transaction follows continued investment by StoneX in expanding its payments and currency infrastructure, including technology, compliance processes and client servicing.
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