Intl FCStone set for yearly payments of $1bn in Brazil

Exotic markets payments provider says volumes are up threefold since obtaining a banking licence in the country

Cristo Redentor statue overlooking Rio de Janeiro
Higher volumes: Intl FCStone is one of the few foreign firms to have received an FX banking licence in Brazil

Cross-border payments provider Intl FCStone is set to handle $1 billion in yearly payments from Brazil, after the company acquired a banking licence there in April. Since acquiring its new regulatory status, the firm says volumes of payments in the country have trebled.

Intl FCStone, which specialises in cross-border payments in local currency in the world’s most illiquid and exotic frontier markets, is considering extending the range of FX products it offers clients in Brazil in the near

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