XTB's global expansion is gaining momentum with new licenses in Indonesia and the United Arab Emirates

1/13/2025 8:40:06 AM

(MENAFN- Your Mind media ) UAE, Dubai 13th January 2025
XTB, a fintech company that provides access to global financial markets through an online investment platform and mobile app, has obtained two new licenses, allowing it to commence operations in Indonesia and strengthen its presence in the Middle East region.
XTB is one of the leading investment applications in Europe. It has ambitious plans for global expansion, targeting the MENA region, Latin America, and Asia. The new licenses in Indonesia and the United Arab Emirates marks a significant step in advancing these international goals.
Strengthening XTB’s presence in the Middle East region
XTB received a Securities and Commodities Authority (SCA) license in the United Arab Emirates. The 5th category license will allow the company to improve cost and operational efficiency, increase the scope of services provided to clients in the region, and increase employment and open a new office outside the special economic zone in Dubai. It is worth emphasizing that the Middle East region is one of the fastest growing in XTB in terms of operating revenues. In the third quarter of 2024 alone, they increased by 44.7% compared to the same period of the previous year.
XTB's entry into Indonesia is getting closer
The company announced its plans to enter the Indonesian market in early 2024. In December, its subsidiary, XTB Indonesia Berjangka, received a PALN license from the local regulator, Bappebti Indonesia. This license will enable Indonesian residents to access investments in shares and ETFs offered by XTB.
This license moves us significantly closer to beginning our operations in Indonesia. We have spent several intensive months completing extensive organizational, regulatory, and technological work to prepare for launching in this promising market. We estimate that we will be able to commence operations there in the first half of 2025, says Omar Arnaout, CEO of XTB.
New products enhance competitive advantage
Obtaining new licenses concludes a highly active year for XTB. Throughout 2024, the fintech company introduced a range of new products, making its investment application one of the most competitive on the market in terms of offering variety and financial market accessibility.

Looking ahead, 2025 is expected to be another intensive year for product development. In the first quarter, a virtual wallet with a multi-currency card will be rolled out to the European markets with more plans to be announced in the first weeks of the new year.

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