StoneX Group Inc. announced the acquisition of WCS International Ltd., a UK‑based wholesale banknotes trading and distribution business, through its wholly owned subsidiary StoneX Financial Ltd. The deal expands StoneX’s payments and cross‑border capabilities by adding a complementary product to its existing global payments network.
WCS International, founded in 2022, supplies wholesale banknotes to banks and other financial institutions and operates in more than 90 currencies worldwide. The acquisition is expected to strengthen StoneX’s position as a global non‑bank provider of banknotes, payments and foreign‑exchange services, leveraging StoneX’s extensive correspondent banking relationships and currency access.
StoneX’s management highlighted the strategic fit of the transaction. “This acquisition strengthens StoneX’s financial institutions ecosystem by adding a highly complementary capability to our leading payments and cross‑border business,” said Thiago Vieira, Global Head of StoneX Payments. “By combining StoneX’s global correspondent banking relationships and extensive currency access with WCS’s specialized expertise, we are well positioned to be a global non‑bank provider of banknotes, payments and FX.”
Angela Smith, CEO of WCS International and former Head of Wholesale Banknotes at Travelex, added, “Joining StoneX provides our business with the balance sheet strength, global reach and institutional relationships needed to accelerate our growth. We are excited to bring our wholesale banknotes and currency expertise into a broader, global financial services platform.”
The transaction adds a new revenue stream and client base to StoneX’s ecosystem and supports its broader strategy of integrating financial services across commercial, institutional and payments segments. While the financial terms of the deal were not disclosed, the acquisition aligns with StoneX’s recent pattern of growth through acquisitions, including the purchases of R.J. O’Brien, The Benchmark Company, LLC, and Plantureux.
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