This follows the acquisition of Bexs Banco and Bexs Pays, enhancing its presence in the region. Ebury Bank will operate with a local banking license, primarily focusing on foreign exchange services to offer a wide range of cross-border payment products for businesses in Brazil.
Fernando Pierri, Global Commercial Director of Ebury, emphasizes Brazil’s importance in Ebury’s growth strategy, aiming to boost revenue and integrate local businesses into international trade. This expansion coincides with Ebury’s recent entry into Africa through acquiring Prime Financial Markets in South Africa.
Ebury is particularly focused on facilitating direct currency transactions between the Brazilian real and the Chinese yuan, catering to the growing Chinese presence in Brazil. The services offered will include risk management solutions for exporters and importers, aiming to mitigate the volatility of the Brazilian real.
Founded in 2009 in London by Spanish engineers Juan Lobato and Salvador García, Ebury has grown substantially. It now boasts a client portfolio of over 24,000 companies and employs more than 650 staff across its London headquarters and 12 other countries.
