Multi-asset brokerage, Equiti Group announced on Thursday that it has received a new regulatory license from the Financial Services Authority (FSA) Seychelles. It has been awarded to the broker’s locally formed entity Equiti Brokerage (Seychelles) Ltd.
With this, the brokerage is now regulated under the laws of six jurisdictions: the other licenses of the brokerage were issued by the financial regulators of the United Kingdom, the United Arab Emirates, Jordan, Kenya, and Armenia.
“The FSA license is a significant milestone for Equiti Group and will support our future expansion into new regions, such as Latin America and South-East Asia, as well as deliver new product offerings,” Iskandar Najjar, CEO at Equiti Group, said in a statement.
“Regulatory compliance and strong business ethics are at the core of our operations. With the addition of our FSA license, our clients can be assured they are dealing with one of the most regulated and progressive global fintechs in the industry.”
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The group gained the new license when it was already inking deals with other market players to streamline and expand its services.
Finance Magnates earlier reported on Equiti Capital UK’s partnership with trading technology provider, FXCubic to receive proprietary liquidity solutions and price management systems. The company also partnered with Your Bourse and Gold-i to further enhance its liquidity.
Equiti is also expanding aggressively in the African markets and is among the few regulated brokerages in the region. It received a license from Kenya’s Capital Markets Authority in 2018 and is operating there as EGM Securities.
Last June, the company signed a partnership agreement with Genghis Capital, an investment bank in Kenya.