Global Payments Division of StoneX Launches Digital Payment Initiative

The Nasdaq-listed financial services provider, StoneX Group announced that StoneX Payments, the company’s global payments division, has introduced a new digital payments initiative to facilitate its clients today.

Through the newly introduced service, StoneX aims to provide a fully integrated offering. StoneX Payments offers specialized services related to cross-border payments in emerging markets.

To lead its mission regarding digital payments, StoneX Payments announced the selection of Dean Chang, the former Executive Director, Head of Payments and Capital Markets Sales & Trading at CIBC FirstCaribbean International Bank, as its Global Head of Digital Payments.

In his professional career of over 15 years, Chang has served in several key positions including his time at Island Pay as its Chief Operating Officer. In addition, Chang worked as a Senior Economic Analyst at NERA Economic Consulting.

"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 skillset and experience that positions him well to lead our new digital payments initiative,” Carsten Hils, the Global Head of StoneX Payments, said.

Emerging Markets

StoneX highlighted several challenges in emerging economies related to payments. According to the firm, StoneX Payments will establish efficient and innovative digital solutions to make it easier and more convenient for global institutions and corporates to set themselves up to accept domestic payments.

"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 payment solutions to help our clients grow in new markets around the world,” Chang commented.