StoneX Group Inc. (NASDAQ:SNEX) announced today that its wholly owned subsidiary, StoneX Financial Ltd, has acquired WCS International Ltd (WCSI), a UK-based wholesale banknotes trading and distribution business.

The acquisition enhances StoneX’s relevance to financial institutions by adding a complementary product and capability alongside its existing cross-border payments business.

WCSI was launched in 2022 to provide wholesale banknotes trading services to banks and other financial institutions. The company is led by Angela Smith, the former Head of Wholesale Banknotes at Travelex, and brings deep market expertise and longstanding industry relationships.

Thiago Vieira, Global Head of StoneX Payments, commented:

“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. By combining StoneX’s global correspondent banking relationships and extensive currency access with WSCI’s specialized expertise, we are well positioned to be a global non-bank provider of banknotes, payments and FX.”

Angela Smith, CEO of WCSI, 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.”