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StoneCastle unit acquires Intermedium Financial's insured deposit sweep biz

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StoneCastle unit acquires Intermedium Financial's insured deposit sweep biz

StoneCastle Cash Management LLC unit StoneCastle Insured Cash Sweep LLC acquired the insured deposit sweep business of Intermedium Financial LLC.

The transaction includes the InterLINK FinTech platform and related assets.

Intermedium's sweep business will operate under the StoneCastle name while retaining the InterLINK brand. Intermedium's San Diego office will continue as operations center for the sweep business.

Terms of the deal were not disclosed.