BNP Paribas (EPA: BNP) announced Tuesday its agreement to acquire Kantox, a leading fintech for automation of currency risk management. Kantox software offers a e-stop-shop, API driven, plug-and-play solution which has emerged as an innovative technology within the B2B cross-border payments sector. Corporates can set up advanced level, automated hedging strategies. (BNP Paribas)

Terms of the acquisition were not disclosed. Kantox’s products can now be offered to BNP clients across the world through its integrated business model, thus accelerating the growth of the currency fintech.

The Global Markets business of BNP Paribas’ CIB division and the business centres of the Commercial, Personal and Banking Services (CPBS) division will deploy Kantox technology to large corporate as well as SME and Mid-Cap clients, capitalising on market knowledge and local presence of the BNP Group.

Olivier Osty, Head of Global Markets, BNP Paribas CIB: “We are delighted to strengthen our partnership with Kantox, which brings to our clients a unique and innovative platform to automate their currency risk management. Corporate treasurers are currently navigating turbulent markets and advanced technology can help mitigate some of the challenges, easing the burden of manual tasks and allowing them to focus on their core business.”

Yann Gérardin, Chief Operating Officer, Head of BNP Paribas CIB: “The acquisition of Kantox presents a further illustration of our ability to establish long-term partnerships with fintechs in an ever-increasing range of areas. Supporting our clients in their international development and providing them with the most advanced technological solutions have always been our priority and are as such key pillars of our GTS 2025 strategic plan.”

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