MultiBank Group achieves regulatory milestone with CySEC License for MEX Europe
July 19, 2023 - The MultiBank Group has announced that its subsidiary, MEX Europe Ltd, has received a license from the Cyprus Securities and Exchange Commission (CySEC). This additional step in the company's regulatory journey enables it to provide services in European markets in full compliance with European regional regulations.
The group now holds regulatory status from 12 global bodies.
Chairman of MultiBank Group, Naser Taher, expressed his pride in this achievement, stating, “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. 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 introduction of MEX Europe comes as MultiBank Group anticipates going public in 2023. The company is also in the process of developing several notable projects, including an inter-bank ECN trading platform, a digital assets exchange in Australia, a social trading application, and a global digital payments processor.
Last October, MultiBank Group secured licenses from the SCA of the UAE and MAS of Singapore. Other financial institutions within the MultiBank Group that are regulated by prestigious regulatory authorities, including ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC.
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