ICM.com, a global financial technology firm, has obtained a regulatory license from the Financial Services Authority (FSA) in Seychelles. This development brings the number of jurisdictions where the company is regulated to seven, including the FCA in the UK, FSRA in Abu Dhabi, FSC in Mauritius, FSA in South Africa, and ARIF in Switzerland.

Seychelles License for ICM.com

Seychelles is gaining traction as a strategic location for brokerage operations, positioned between Africa, Asia, and the Middle East. The new license supports ICM.com’s efforts to enhance its regulatory coverage and expand its global services.

Established in 2009 in the UK, ICM.com provides access to over 5,000 trading instruments for retail and institutional clients. The firm operates regional offices across multiple continents, including Europe, Asia, Latin America, the Middle East, and Africa.

“The newly added FSA license represents a significant milestone for the company, paving the way for our expansion into new regions and supporting our ongoing growth in Latin America and Southeast Asia,” Shoaib Abedi, CEO of ICM.com commented.

“Our clients can rest assured they are partnering with one of the most regulated and innovative fintech firms in the industry,” he continued.

Investments in AI Planned

In 2024, ICM.com has focused on expanding its presence in Latin America, Africa, and India. The company also entered a partnership with Swisspod Technologies, a firm specializing in Hyperloop technology. ICM.com plans further investments in artificial intelligence and new product offerings.

Meanwhile, the Seychelles National Assembly has approved a bill to regulate virtual asset service providers (VASPs), as reported by Finance Magnates. The law mandates VASPs to establish a significant presence in Seychelles, including appointing a resident director and setting up an office with qualified staff.

Entities must incorporate under specific acts and seek approval from the central bank if already regulated. The law applies to wallet providers, exchanges, brokers, and investment providers, all of which must undergo an evaluation before being granted a license.