The company secures licenses in two new markets, demonstrating a major expansion into Asia and the Middle East.
It plans to launch operations in Indonesia by 2025 while strengthening its presence in the UAE with enhanced services.
XTB Headquarter in Warsaw, Poland
Publicly
listed Polish fintech XTB (WSE: XTB) has received two new
regulatory approvals, in Indonesia and the United Arab Emirates (UAE), expanding
its international presence beyond its European base.
XTB Secures Regulatory
Approvals in Indonesia, UAE
The
company's Indonesian subsidiary, XTB Indonesia Berjangka, obtained a PALN
license from the country's regulatory body, Bappebti. It will enable the firm
to offer stocks and ETF investment services to Indonesian residents. According to
the company's statement in Polish, seen by Finance Magnates, operations
in Indonesia are scheduled to commence in the first half of 2025.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“This
license brings us significantly closer to launching our operations in Indonesia,”
commented Omar Arnaout, CEO of XTB. The official commentary was issued in
Polish and auto-translated to English. “The past months have been intense, as
we undertook extensive organizational, regulatory, and technological work to
prepare for entering this promising market. We estimate that we will be able to
start operations there in the first half of 2025.”
In a
separate development, XTB received a Category 5 license from the UAE Securities
and Commodities Authority (SCA). Since July 2021, XTB has operated under a
license granted by the Dubai Financial Services Authority (DFSA). However, the
newest approval allows the company to establish operations outside Dubai's
special economic zone and expand its service offerings in the region.
XTB
continues to introduce new products in the region. It launched ETF Investment Plans
earlier this year. Financial reports indicate that these efforts are
paying off. The latest data shows the company's Middle East operations recorded a
44.7% increase in operating revenue during
the third quarter of 2024 compared to the same period last year.
Publicly
listed Polish fintech XTB (WSE: XTB) has received two new
regulatory approvals, in Indonesia and the United Arab Emirates (UAE), expanding
its international presence beyond its European base.
XTB Secures Regulatory
Approvals in Indonesia, UAE
The
company's Indonesian subsidiary, XTB Indonesia Berjangka, obtained a PALN
license from the country's regulatory body, Bappebti. It will enable the firm
to offer stocks and ETF investment services to Indonesian residents. According to
the company's statement in Polish, seen by Finance Magnates, operations
in Indonesia are scheduled to commence in the first half of 2025.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“This
license brings us significantly closer to launching our operations in Indonesia,”
commented Omar Arnaout, CEO of XTB. The official commentary was issued in
Polish and auto-translated to English. “The past months have been intense, as
we undertook extensive organizational, regulatory, and technological work to
prepare for entering this promising market. We estimate that we will be able to
start operations there in the first half of 2025.”
In a
separate development, XTB received a Category 5 license from the UAE Securities
and Commodities Authority (SCA). Since July 2021, XTB has operated under a
license granted by the Dubai Financial Services Authority (DFSA). However, the
newest approval allows the company to establish operations outside Dubai's
special economic zone and expand its service offerings in the region.
XTB
continues to introduce new products in the region. It launched ETF Investment Plans
earlier this year. Financial reports indicate that these efforts are
paying off. The latest data shows the company's Middle East operations recorded a
44.7% increase in operating revenue during
the third quarter of 2024 compared to the same period last year.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
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