Expansion in Latin America is a key area of Ebury’s global growth strategy and builds on its acquisition of Bexs, which was announced last year. Bexs is a Brazilian bank with over 30 years of experience in international payments and FX risk management. It also offers foreign trade solutions for SMEs and scalable technological solutions (API) to major digital players such as Nubank, Ebanx, Nuvei and PPRO.

As part of its growth plans, Ebury will strengthen its team in Brazil and launch more products locally, such as their multi-currency accounts, which will be a game-changer for Brazilian importers and exporters.

Ebury will also be able to bring product upgrades to its Brazilian operations. It has been investing heavily in scalable API solutions for businesses, such as its white-labelled proposition, which seamlessly integrates with third-party systems. Other launches include the expansion of their Currency Account offering, increasing global coverage. ‘Ebury recently launched its 11th local Currency Account in Singapore (SGD), which positions them as a leading market player, offering the most comprehensive suite of local collection accounts in the industry.’

Ebury will announce its detailed plan as part of its participation in Money 20/20 Europe, to be held from June 6 to 8 in Amsterdam. The event brings together fintechs from around the world to exchange experiences and knowledge about the universe of payments and other innovations, such as cryptocurrencies, digital wallets, and artificial intelligence.

Banking Transformation 2023

Fernando Pierri, Global Chief Commercial Officer at Ebury based in Brazil commented: “We are delighted to be showcasing Ebury’s expansion plan and new digital solutions at Money 20/20. Brazil is an important growth area for Ebury - it is a country of continental dimensions with over 170 million people connected to the internet, offering tremendous potential for growth in international trade.”

“As markets are increasingly connected globally, Ebury’s services are designed to deliver secure, frictionless international transactions whilst giving businesses greater confidence to deal with FX volatility. Our expansion will digitally connect Brazilian importers and exporters to Asia, North America, Europe and other regions.”