MultiBank Group obtains CySEC CIF license for MEX Europe Ltd
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Multinational Retail FX and CFDs broker, MultiBank Group, continues its global expansion with its recent receipt of a Cyprus Securities and Exchange Commission (CySEC) CIF license for its subsidiary, MEX Europe Ltd. The license, granted on May 22, 2023, marks another significant step in the broker’s international growth strategy.
MEX Europe Ltd is set to manage the mexeurope.com website, focusing primarily on clientele within the European Union. To bolster this operation, the company is establishing an office in Limassol, Cyprus.
Chairman of MultiBank Group, Naser Taher, expressed immense pride in the acquisition of the CySEC license, acknowledging it as a reflection of the company’s commitment to developing a world-class, regulated financial products and services ecosystem.
“MultiBank Group has been operating in the financial industry with an unblemished track record for over 20 years, and as such, it has built a reputation for providing the highest level of funds security, first-class financial services, award-winning technology, and products,” Taher stated.
- The unveiling of MEX Europe comes as MultiBank Group prepares to go public in 2023. The company has several innovative projects in the pipeline, including an inter-bank ECN trading platform for financial institutions and banks, a digital assets exchange regulated in Australia, a globally oriented digital payments processor, and an enhanced social trading application. The firm’s aim is to create the world’s first cross-asset ecosystem, bridging the gap between traditional and emerging forms of finance.
- MultiBank Group last October secured licenses from the Securities and Commodities Authority (SCA) of the UAE and the Monetary Authority of Singapore (MAS). These recent acquisitions join an array of regulatory licenses from institutions such as ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC. With 12 regulators, MultiBank Group assures a fully regulated and secure trading environment for its vast global clientele.
Last year, as part of its global expansion initiative, MultiBank Group moved its headquarters from Hong Kong to Dubai. The Group, comprising several entities, is heavily regulated across five continents by over 11 financial regulators, including those in Australia, Germany, Austria, Cyprus, Cayman Islands, UAE, BVI, Singapore, and Vanuatu.
With over 25 branches worldwide, an impeccable regulatory record, and a loyal customer base exceeding 1,000,000 users, MultiBank Group is poised to maintain its leading position in the global financial industry.