DUBAI, United Arab Emirates--(BUSINESS WIRE)--Jul 19, 2023--
MultiBank Group, the largest financial derivatives institution worldwide, announced that its latest subsidiary, MEX Europe Ltd, has been granted a license by the Cyprus Securities and Exchange Commission (CySEC) to provide services to clients in full compliance with the applicable laws in European markets.
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This achievement marks another major milestone for the Group and demonstrates its continuing commitment to achieving the highest echelon of regulatory standards and security of funds.
" We are immensely proud of obtaining the CySEC license, reflecting our dedication to continuously developing the world’s leading regulated financial products and services ecosystem, " said Naser Taher, Chairman of MultiBank Group. " 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 that have made MultiBank the world’s most widely used financial derivatives broker with a loyal customer base of over 1,000,000 users”.
The unveiling of MEX Europe comes when MultiBank Group is expecting to go public in 2023 with several ground-breaking projects including an inter-bank ECN trading platform for financial institutions and banks, a digital assets exchange regulated in Australia, an enhanced social trading application and a global digital payments processor, aiming to create the world’s first cross-asset ecosystem to bridge the gap between traditional and other emerging forms of finance.
In addition to the CySEC license, MultiBank Group announced last October it had obtained licenses from SCA of the UAE and MAS of Singapore. MEX Europe joins the ranks of other financial institutions within the MultiBank Group that are regulated by prestigious regulatory authorities, including ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC. With 12 regulators, MultiBank Group ensures a fully regulated and secure trading environment for clients worldwide. From its establishment to this day, MultiBank Group maintains an impeccable regulatory record with over 25 branches worldwide.
About MultiBank Group
MultiBank Group was established in USA, in 2005. It boasts a daily trading volume of over US $12.1 billion and has evolved into one of the largest online financial derivatives providers worldwide, providing award-winning trading platforms and leverage up to 500:1 on products including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For more information, visit https://multibankfx.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230719750910/en/
CONTACT: Dareen Issa
00971504128656
Dareen.issa@multibankfx.com
KEYWORD: MIDDLE EAST
INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY FINANCE ASSET MANAGEMENT BANKING DIGITAL CASH MANAGEMENT/DIGITAL ASSETS
SOURCE: MultiBank Group
Copyright Business Wire 2023.
PUB: 07/19/2023 06:40 AM/DISC: 07/19/2023 06:38 AM
http://www.businesswire.com/news/home/20230719750910/en
