Ebury, a prominent payments company owned by Santander, is broadening its reach by offering tailored payment solutions to forex (FX) and contracts for differences (CFD) brokers. This move marks a significant step in the company’s strategic growth, as it actively targets a new client segment to diversify its service offerings.
Expanding into the Brokerage Sector
Ebury began onboarding FX and CFD brokers in December 2023 and has since attracted more than 20 brokerage clients, with over a dozen currently using its services actively. The platform offers a range of financial tools designed specifically for brokers, including international bank accounts (IBANs) in 20 countries, FX hedging options, Swift GPI tracking, and corporate cards. These features cater to the unique needs of brokerages operating in complex and high-frequency trading environments.
Despite its recent entry into the sector, Ebury did not aggressively pursue brokers but has still managed to attract substantial interest. The company plans to further expand its offerings in 2024 by adding more products tailored to the brokerage industry.
Strategic Growth and Global Expansion
Ebury, headquartered in London, has been steadily expanding its presence in key markets around the world. In November 2023, it established a new office in Cyprus to cater specifically to brokers in the region, a hub for many FX and CFD companies. The payments firm already operates under multiple licenses across several countries, including the United Kingdom, Belgium, the UAE, Hong Kong, and Australia, allowing it to serve a diverse range of clients.
The company’s co-founder and CEO, Juan Lobato, has overseen rapid growth since Ebury’s inception, with the company now employing more than 1,700 people globally. In addition to expanding its footprint in Europe and the Middle East, Ebury has entered the Latin American market, launching banking services in Brazil and extending its presence to Chile. It has also made inroads into the African market with a recent acquisition in South Africa.
Eyeing the Future: IPO Plans
Ebury’s expansion into the FX and CFD space aligns with its broader strategy to enhance its global reach and diversify its services. The payments group is also preparing for an initial public offering (IPO), reportedly aiming for a £2 billion listing. Goldman Sachs has been appointed to lead the public offering, highlighting Ebury’s ambitious plans for future growth.
As the company continues to establish itself as a versatile financial services provider, its entry into the FX and CFD brokerage sector signals a commitment to evolving with industry demands and capturing new market opportunities.
