BNP Paribas to Acquire Kantox

BNP Paribas has agreed to acquire Kantox, a fintech provider for automation of currency risk management. Kantox’s software solution has managed to successfully re-bundle the Corporate FX workflow, offering a one-stop-shop, API driven, plug-and-play solution which has emerged as a unique technology within the B2B cross-border payments sector. Kantox’s technology provides automation and sophistication to Corporates in setting up hedging strategies. By leveraging its integrated business model, BNP Paribas is positioned to accelerate and extend Kantox’s offering to a wide range of Corporate clients across the globe. The acquisition of Kantox is supported by the Global Markets business of BNP Paribas’ CIB division and the business centers of the Commercial, Personal and Banking Services (CPBS) division. The two divisions aim to deploy Kantox technology to large corporate as well as SME and Mid-Cap clients.