StoneX Launched New Digital Payments Division to Expand Payment Solutions

StoneX | January 20, 2022

StoneX Group Inc. announces to launch its new digital payments initiative from its Global Payments Division. The initiative aims to expand a broad range of payments solutions to global corporate and institutional clients. StoneX Payments solutions specialize in transferring funds to the developing world. It offers competitive and transparent pricing and guaranteed and secure delivery in approximately 140 currencies across 180 countries.

StoneX is currently leading in global cross-border payouts and is leveraging its deep, proven cross-border capabilities, global client relationships, and substantial in-country payments services to provide a fully integrated offering. StoneX Payments also revealed that Dean Chang had joined the division as Global Head of Digital Payments to launch the new payment offering. Mr. Chang brings his experience in building innovative digital payment solutions, which will enhance cross-border FX and StoneX Payments’new payment venture. Recently, Mr. Chang functioned as Chief Operating Officer of Island Pay and boosted Island Pay in the Caribbean region.

Carsten Hils, Global Head of StoneX Payments, says, "We recognize that although we are providing world-class cross-border FX payout solutions, our clients have other payments needs that we plan to address with these new capabilities. We want to position ourselves to support their goals, leveraging our experience and knowledge in emerging markets. Dean brings a diverse skill set and experience that positions him well to lead our new digital payments initiative."

Earlier it was noted that StoneX Payment's clients faced challenges while facilitating payments. As a result, StoneX is launching this initiative in emerging markets to address and overcome these critical needs respectively. In this way, StoneX Payments will develop an innovative digital solution to make the flow of payments more accessible and convenient for global institutions and corporates. In addition, these novel solutions/services will enable global leaders to grow their businesses and drive customer engagement.

Mr. Chang concluded, "I am excited to join StoneX Payments and be part of a team that leads the way in global payments. This initiative represents an investment in the future, as we build our platform and broaden our reach with new, innovative payments solutions to help our clients grow in new markets around the world."


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