StoneX Payments and Hana Bank Deepen Partnership to Strengthen Cross-Border Payment Capabilities
Rhea-AI Summary
StoneX Group (NASDAQ: SNEX) has expanded its strategic partnership with Hana Bank through a new correspondent banking relationship between StoneX Financial Ltd (SFL) and Hana Bank's London branch. This builds upon their existing partnership with Hana Bank's Seoul headquarters.
The collaboration enhances cross-border payment capabilities, particularly for Korean won (KRW) transactions. Hana Bank utilizes StoneX Payments' FX platform for local currency payments across Latin America, the Middle East, and Asia, while StoneX benefits from improved KRW settlement capabilities into Korea.
This partnership aligns with the Korean government's initiative to expand FX market operations and supports StoneX's Asian expansion strategy while enabling Hana Bank to better serve its international corporate clients.
Positive
- Enhanced cross-border payment capabilities and KRW transaction settlement efficiency
- Strategic expansion into Asian markets through partnership with a major Korean bank
- Alignment with Korean government's FX market expansion initiatives
- Improved service capabilities for international corporate clients
Negative
- None.
News Market Reaction – SNEX
On the day this news was published, SNEX gained 0.69%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LONDON and SEOUL, South Korea, Sept. 25, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX) announces today that the Payments Division of its London-based subsidiary, StoneX Financial Ltd (“SFL”), has entered into a correspondent banking relationship with Hana Bank’s London branch, marking a significant expansion of StoneX’s existing strategic partnership with Hana Bank’s head office in Seoul.
Hana Bank, one of South Korea’s foremost commercial and foreign exchange banks, leverages StoneX Payments’ market-leading cross-border FX payment platform to provide cost-effective and seamless access to local currency payments in Latin America, the Middle East, and Asia. This partnership will allow Hana Bank to better serve the needs of its international corporate clients operating across global markets. The new arrangement between SFL and Hana Bank London builds on the strong foundation already in place between the parties and represents the next phase of the successful partnership.
By integrating Hana Bank into SFL’s global network of correspondent banks, both institutions will be able to better serve increases in Korean won (KRW) flows into Korea. The new initiative will greatly enhance SFL’s ability to settle KRW transactions into Korea and strengthen Hana Bank’s ability to deliver comprehensive FX and remittance services to its broad client base.
Chiwoo Lee, Deputy General Manager, Hana Bank London, said:
“With our FX expertise, it’s great to not only contribute to StoneX’s KRW payment capabilities, but also to align with the Korean government’s intent to open up the FX market with extended operation hours for KRW transaction facilitation.”
Commenting on StoneX Payments’ strategic expansion, Thiago Vieira, Global Head of StoneX Payments, said:
“Hana Bank’s growing global ambitions make them an ideal partner for our financial institution client platform. As we continue to execute on our Asia expansion strategy, we are thrilled to take our partnership with Hana Bank to the next level—providing customers with access to broader emerging-market currencies while offering StoneX clients a more efficient way to execute payments into Korea.”
Adding a local market perspective, Won Kyung Cho, Head of StoneX Payments Korea, said:
“We see immense potential in leveraging Hana Bank’s expertise to deepen our capabilities and support ever-increasing KRW payment demand. Through the advanced capabilities both organizations bring to the table, we anticipate this partnership will unlock new opportunities and business potential for Korea-related companies.”
About Hana Bank
Founded in 1971 and expanded through its merger with Korea Exchange Bank (KEB) in 2015, Hana Bank is one of South Korea’s largest and most influential banks. Headquartered in Seoul, the Bank operates over 600 branches domestically and maintains a presence in over 24 countries. With a leading share of South Korea’s foreign exchange market, Hana Bank provides a full range of financial services to clients worldwide. Contact: fx_london@hanafn.com
About StoneX
A Fortune 50 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its more than 5,400 employees serve over 54,000 commercial, institutional, and payments clients, as well as more than 260,000 retail accounts, across more than 80 offices on six continents. Further information is available at www.stonex.com.
For more information contact:
Mia Porter
Mia.Porter@StoneX.com
FAQ
What is the new partnership between StoneX and Hana Bank in 2025?
How will the StoneX-Hana Bank partnership affect Korean won (KRW) transactions?
What regions will benefit from the StoneX-Hana Bank partnership?
How does the SNEX partnership align with Korean government initiatives?
What are the benefits for StoneX (SNEX) customers from this partnership?
