StoneX Digital continues StoneX's expansion into the digital assets class
NEW YORK, June 8, 2022 /PRNewswire/ -- StoneX Group Inc. ("StoneX"), a diversified global financial services firm providing execution, risk management and advisory services, market intelligence, and clearing services across multiple asset classes and markets around the world, today announced the launch of StoneX Digital LLC ("StoneX Digital"), a subsidiary dedicated to providing institutional clients with access to multiple products and services for digital assets. Brian Mulcahy, who joined StoneX in 2021 as Managing Director of Multi-Asset Business Development, will lead the StoneX Digital entity.
StoneX Digital seeks to provide clients the flexibility and tools to interact with markets on their terms and enable them to trade and custody cryptocurrencies. StoneX Digital's path for innovative expansion is expected to include a scope of products and services for multi-asset coverage, staking, margin, and cross-asset lending. This new product offering further enhances StoneX's ability to connect clients to the global financial markets and offer a broad array of financial products and institutional-grade platforms.
Brian Mulcahy, Head of StoneX Digital, commented on the news, "StoneX is committed to providing our clients access to a wide array of markets, diverse asset classes, and the tools necessary to interact with those markets effectively. We are thrilled that StoneX Digital will give institutional investors the ability to execute and custody cryptocurrencies just as they would any other asset class, with a company that has the resources and a client-first approach to help them achieve their goals. As our clients' needs change in this developing market, StoneX Digital will continue to strive to meet those needs with innovative products and services."
The establishment of StoneX Digital comes shortly after StoneX's registered swap dealer, StoneX Markets LLC, executed its first BTC-Cash Settled Swap on behalf of one of its longtime institutional clients. It is the next step for StoneX Group Inc. as it seeks, through its subsidiaries, to offer its commercial, institutional, and retail clients a comparable level of access to digital asset markets as they have to other asset classes through StoneX.
Mr. Mulcahy concluded, "StoneX has worked hard to create an environment where our clients have stable and reliable access to a wide variety of asset classes. We will bring that same ethos to the digital asset space as we work to provide our customers with the tools they need to thrive in today's markets."
About StoneX Group Inc.
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders, and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product, and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune-500 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its approximately 3,300 employees serve more than 52,000 commercial, institutional, and global payments clients, and more than 370,000 retail accounts, from more than 40 offices spread across five continents.
For further information about StoneX, please visit: https://www.stonex.com/
Jay A. Morakis
M Group Strategic Communications (for StoneX Group Inc.)
+1 646 859 5951
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SOURCE StoneX Group Inc.