StoneX Payments Acquires WCS International Banknotes

StoneX Group Inc. announced that its wholly owned subsidiary, StoneX Financial Ltd, acquired WCS International Ltd, a UK-based wholesale banknotes trading and distribution business. The deal is positioned as an add-on to StoneX Payments and its existing cross-border payments operations.

WCS International was launched in 2022 to provide wholesale banknotes trading services to banks and other financial institutions. It is led by Angela Smith, formerly Head of Wholesale Banknotes at Travelex, and is described as bringing market expertise and longstanding industry relationships. StoneX said the acquisition will also leverage its global metals operations and logistics capabilities.