Payments platform Paysafe (NYSE:PSFE) and Forex broker International Capital Markets Pty. Ltd. (IC Markets) today announced an expansion of their existing partnership into Latin America.

The existing payments partnership between the two companies started in 2018 and saw IC Markets integrate with Paysafe’s payments API to offer its traders in Europe access to a broad range of payments options including digital wallets as well as locally preferred payment methods.

Under the expanded agreement, IC Markets’ traders in Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama and Peru will also now have access to Paysafe’s diverse portfolio of payments options to fund their forex trading accounts, including digital wallets such as Skrill and NETELLER, as well as other local payment methods, such as real-time bank transfers.

Latin America has been attracting significant economic interest due to its growing population, rising smartphone adoption and increasing digitization, with consumers driving demand for financial services and alternative payments. The region is particularly important for the retail forex trading market, and Paysafe’s deep expertise in compliance and the regulatory landscape in the region supported the integration.

“We’re delighted to be expanding our multi-year partnership with IC Markets and facilitating their move into Latin America where we can offer our entire suite of products, including some of the most popular forms of local payments such as bank transfers. The region is growing rapidly, and we look forward to seeing IC Markets thrive there,” said Robert Gatto, Chief Revenue Officer at Paysafe.