StoneX Group is expanding its services in India with International Bullion Exchange (IIBX) membership and the opening of new offices in the region. According to a report by the firm, StoneX has experienced significant growth since its entry into the Indian market in 2019, now employing over 550 staff in the country as part of a global workforce exceeding 4,300 employees.

Expansion in India

Commenting about the expansion plan, Greg Kallinikos, APAC CEO at StoneX, said: “India has consistently been at the forefront of technological innovation across various sectors, making it a natural choice for expanding our technology and support operations.”

“The robust talent pool in the financial services sector has been another point of attraction in establishing our Global Capability Centres in Bangalore and Pune.”

Besides its expansion in Pune and Bengaluru, StoneX highlighted its contribution to the Gujarat International Finance Tec-City (GIFT City). The firm commenced operations in June 2024 and focuses on trading precious metals.

Recently, the company reportedly made an unsolicited $480 million takeover bid for UK-listed CAB Payments just months after its public listing. According to sources familiar with the matter, the proposal is a significant premium to CAB Payments' current share price. CAB Payments, a firm dealing with payment and trading services, received the offer in September.

Partnership with NatWest Group

“We started in India with one technology team for our Global Payments business and have now matured into a cross-functional Global Capability Centre. We have been growing rapidly in terms of headcount numbers: almost 40% year-on-year,” Manu Dhir, the General Manager of StoneX India, said.

“We offer substantial career growth opportunities, including leadership roles to our employees, and are also focused on recruiting top talent from local universities.”

Meanwhile, StoneX Financial Ltd joined forces with NatWest Group to enhance international payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term capabilities and offer clients better cross-border FX services.

The partnership enables StoneX Payments, StoneX's payment division, to offer NatWest delivery and international FX payment services. This integration reportedly seeks to empower NatWest's corporate clients to transfer funds to different countries.

Notably, the partnership also seeks to facilitate cross-border payments Cross-Border Payments Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Read this Term and extend the bank's local payment reach across a set of currencies, thus granting access to different markets.