BNP Paribas to Acquire Currency Risk Management Firm Kantox
(12 October 2022 – France) BNP Paribas has acquired the currency-risk management fintech Kantox for an undisclosed amount, with the goal of offering its tools to the bank’s corporate customers.
Kantox offers corporates a one-stop-shop, application programming interface (API) driven, plug-and-play solution for setting up hedging strategies.
BNP Paribas has been offering the firm's hedging technology to clients since 2019. Now, two of the bank's Corporate & Institutional Banking (CIB) and Commercial, Personal and Banking Services (CPBS) divisions will now push Kantox software to large corporate as well as SME and mid-cap clients.
"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" commented BNP Paribas Global Markets Head, Olivier Osty.
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