BNP Acquires Fintech Kantox to Offer Currency-Management Tool

BNP Paribas SA purchased the currency-risk management fintech Kantox Ltd for an undisclosed amount, with the goal of offering its tools to the bank’s corporate customers, the companies said in a statement Tuesday.

Access to Kantox’s software will help customers navigate increasingly volatile currency exchange rates, BNP said. Kantox was valued at 122 million euros ($118 million) in July 2021, according to data gathered by Pitchbook, and became profitable earlier this year, co-founder and Chief Executive Officer Philippe Gelis said in an interview.

“Corporate treasurers are currently navigating turbulent markets and advanced technology can help mitigate some of the challenges, ...