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.

Insights

Financial Services Analyst

StoneX's expanded partnership with Hana Bank strengthens its Asian cross-border payment infrastructure, enhancing KRW transaction capabilities and supporting global expansion strategy.

StoneX's newly announced correspondent banking relationship between its London subsidiary and Hana Bank London represents a strategic deepening of an existing partnership that brings material operational benefits to both institutions. This development specifically enhances StoneX's Korean won (KRW) settlement capabilities while providing Hana Bank improved access to StoneX's cross-border FX payment platform across Latin America, the Middle East, and Asia.

The partnership integration holds particular significance as it addresses growing Korean won payment demand, potentially increasing transaction volumes in a key Asian market. By strengthening its correspondent banking network, StoneX continues executing on its stated Asia expansion strategy, which aligns with the company's global growth objectives in emerging markets. The arrangement creates a more comprehensive infrastructure for handling cross-border transactions, likely resulting in improved efficiency and potentially higher transaction volumes.

The timing is notable as it coincides with the Korean government's initiatives to extend operation hours for KRW transactions, suggesting StoneX is positioning itself advantageously within regulatory developments. For StoneX investors, this partnership reinforces the company's continuing focus on strategic infrastructure enhancements that support its global payments business - a segment that benefits from increased international commerce and the growing need for efficient cross-border payment solutions. While specific revenue projections aren't disclosed, the partnership clearly targets increased payment flows and enhanced market position in the Korean financial ecosystem.

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?

StoneX Financial Ltd has established a correspondent banking relationship with Hana Bank's London branch, expanding their existing strategic partnership with Hana Bank's Seoul headquarters to enhance cross-border payment capabilities.

How will the StoneX-Hana Bank partnership affect Korean won (KRW) transactions?

The partnership will enhance StoneX's ability to settle KRW transactions into Korea and strengthen Hana Bank's capacity to deliver comprehensive FX and remittance services to its clients.

What regions will benefit from the StoneX-Hana Bank partnership?

The partnership provides access to local currency payments in Latin America, the Middle East, and Asia, with a particular focus on Korean won transactions.

How does the SNEX partnership align with Korean government initiatives?

The partnership aligns with the Korean government's initiative to open up the FX market with extended operation hours for KRW transaction facilitation.

What are the benefits for StoneX (SNEX) customers from this partnership?

StoneX customers gain access to broader emerging-market currencies and a more efficient way to execute payments into Korea through Hana Bank's expertise.