StoneX Group Inc (NASDAQ:SNEX) today announced that its Global Payments Division (“StoneX Payments”) has launched its new digital payments initiative, aimed at expanding the range of payments solutions it provides to its global corporate and institutional clients.

StoneX plans to leverage its deep, global client relationships, proven cross-border capabilities, and substantial in-country payments services to provide a fully integrated offering.

StoneX Payments also disclosed that it has hired Dean Chang as Global Head of Digital Payments to launch its new digital payment offering. Mr Chang brings extensive experience in cross-border FX and building innovative digital payment solutions. Most recently he served as Chief Operating Officer of Island Pay, where he was responsible for growing Island Pay in the Caribbean region.

Carsten Hils, Global Head of StoneX Payments, commented,

“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.”

StoneX Payment’s clients are faced with challenges when facilitating payments in emerging markets, and as a result the company is launching this initiative to address these critical needs. StoneX Payments will be developing an innovative digital solution to make it easier and more convenient for global institutions and corporates to set themselves up to accept local payments. These new services will allow them to focus on growing their core business 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.”

StoneX Payments specializes in transferring funds to the developing world. It offers competitive and transparent pricing, along with guaranteed and secure delivery, in approximately 140 currencies across 180 countries.