StoneX is buying itself a bank. The Nasdaq listed group behind FOREX.com and City Index announced on 12 August 2026 that it will acquire Banco Travelex, the first bank in Brazil dedicated exclusively to foreign exchange, in a deal expected to close within twelve months once the Central Bank of Brazil signs off. The combined operation is projected to move about $6 billion a year for roughly 20,000 clients.
Banco Travelex is a specific kind of prize. Founded in 2010, it holds a full banking authorisation for FX, carries a BBB investment grade rating from Fitch on the Brazilian national scale and reports a client satisfaction score most brokers would frame on the wall. The retail side of the Travelex name in Brazil, the exchange counters and stores linked to Confidence, stays out of the deal and continues on its own. StoneX is buying the regulated pipes, not the kiosks.
Why a Forex Giant Wants a Brazilian Bank
The logic is the same one driving consolidation across FX. Cross border payments in and out of Brazil keep growing, local licences are slow and hard to win, and owning a bank regulated by the Central Bank of Brazil beats renting one. Glauco Monte, who runs StoneX Brazil, said the transaction reinforces the group's commitment to growth and investment in the country. Ana Tena, chief executive of Banco Travelex, called joining StoneX with its global reach “the natural next step” for the bank.
The Pattern Behind the Purchase
For the retail forex industry the interesting part is who is doing the buying. StoneX has spent two decades collecting licences the way brokers collect trading instruments: Gain Capital and FOREX.com in 2020, City Index alongside them, payment rails across emerging markets, and now a Brazilian FX bank. Retail spreads get thinner every year, and the listed groups have concluded that the durable margin sits in regulated infrastructure rather than in marketing budgets. Expect rivals to go shopping in the same aisle.
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This Is What Maturity Looks Like in Retail FX: the Company That Owns FOREX.com Now Buys Banks, Not Client Books.
A Brazilian banking licence is a moat no advertising spend can copy, and StoneX paying for regulated infrastructure tells you where it thinks the next decade of margin lives.
The deal still needs the Central Bank of Brazil, and twelve months is a long approval runway in which terms can wobble.
Watch whether the other listed brokers follow it into licensed banking or keep fighting over spreads.
About the Company
About StoneX
Regulator
Central Bank of Brazil, approval pending
Jurisdiction
Brazil | Global
Action Type
Acquisition of Banco Travelex
Penalty
None | Corporate transaction
StoneX Group Inc is a Nasdaq listed financial services group with roots going back to 1924, known to retail traders through FOREX.com and City Index, which arrived with the Gain Capital acquisition in 2020. The wider group spans institutional brokerage, commodities, global payments and retail trading. Banco Travelex, founded in 2010 and authorised by the Central Bank of Brazil, is set to join its payments business once the acquisition closes, expected within twelve months of the August 2026 announcement.
Frequently Asked Questions
What exactly is StoneX buying?
Banco Travelex SA, the first bank in Brazil dedicated exclusively to foreign exchange. Founded in 2010, it gained authorisation to operate as a multiple service bank in December 2024 and is rated BBB on Fitch's Brazilian national scale. The retail exchange stores linked to Confidence are excluded and continue independently.
When does the StoneX Travelex deal close?
The companies expect completion within twelve months of the 12 August 2026 announcement, subject to approval by the Central Bank of Brazil and customary closing conditions.
Does this affect FOREX.com or City Index clients?
Not directly. Those brands sit in the retail trading division and keep operating as before, while the acquisition strengthens the payments and banking side of the group in Brazil.
How big is the combined business?
StoneX projects roughly $6 billion in annual volume across about 20,000 clients once Banco Travelex is integrated, with a gradual rollout and no planned service interruption. See how StoneX compares in our Best Forex Brokers in 2026 ranking.
Editor's note & source: Factual points drawn from StoneX's own press release. The transaction remains subject to approval by the Central Bank of Brazil and had not closed at the time of publication. This article is not investment advice. Last updated: 16 August 2026.