INTL FCStone acquires GIROXX

INTL FCStone, which is a German-based financial services company providing advisory and execution services in commodities, has acquired payments services provider GIROXX in Germany. INTL FCStone global payments division facilitates payments in more than 140 local currencies in over 175 countries.

GIROXX deals with providing online payments and foreign exchange hedging services to small and medium enterprises in Germany, Austria and Switzerland.

GIROXX founder and MD Klaus Hoffmann and Jörg Sonnenschein said, “We gain the resources to offer hedging services on a multi assets basis with a balance sheet which will help solidify our client base and to expand at a faster pace.”