MultiBank Group Gets CySEC License, Eyes Going Public in 2023

MultiBank
has secured a license from the Cyprus Securities and Exchange Commission
(CySEC) to expand its
derivatives brokerage services in Europe. The company,
which rebranded from IKON MultiBank Group in 2016, announced
the development today (Wednesday), noting that permission was given to its
local Cypriot subsidiary, MEX Europe.

With the license, Dubai-based MultiBank, which provides trading platforms and tools to
support its clients’
activities in forex, metals, indices, shares, commodities, and digital asset-based
contracts for difference, now operates under 12 regulatory authorities. Currently,
the broker is regulated in several jurisdictions such as Germany, Australia, New Zealand,
UAE
and Singapore.

In 2016, Naser
Taher, the Chairman of MultiBank, told Finance Magnates in an exclusive interview that the
company was considering going public within
the next three years in Hong Kong and at a valuation of about $2 billion. However, while the stated period
has elapsed, MultiBank
is still actively seeking to go public.

“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,”
MultiBank said in the statement.

Furthermore, the company plans to introduce a regulated digital
assets exchange in Australia and launch an enhanced social trading application and global digital payments
Payments

One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl

One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term processor. It noted that the processor will create the ‘world’s first cross-asset ecosystem’ and help bridge the gap between traditional and
other emerging forms of finance.