The Stonex Group Payments section formed a strategic partnership with the Bank Mendes Gans (BMG) to enhance the boundary payment capabilities of the Dutch Bank, especially in the traded currencies.
Alliance will see the technology platform, the BMG Leverge Stonex Payments and the settlement network, allowing it to reach more than 375 correspondence banks and end -of -paying points across 180 countries.
The partnership is designed to improve payment efficiency, reduce dependence on intermediate banks, and expand access to disadvantaged markets.
Stonex payments will facilitate foreign currency payment and pay processing in more than 140 currencies through its API system, including the new royal drive, XPay.
Integration is expected to enable faster settlement times, increase transparency, and verify the authenticity of transactions for international customers in BMG.
The partnership “is another meaningful step on our journey to build products and services that facilitate the movement of money and the distribution of payment to international organizations worldwide.”
Vieira added: “Through our installed infrastructure, which is supported by the new and ownership engine, XPay, we now have a concession to serve more than 85 banking institutions,” Vieira added.
“It represents a major development in the services we provide to our customers.”
He added that Stonex International and innovative infrastructure will allow the company to expand the capabilities of liquidity with new currencies and “provide flexibility and transparency enhanced in international transactions.”