B2Broker announced this Thursday that it has officially opened its office in Belarus following the prime brokerage becoming the first approved foreign exchange (forex) and contracts for difference (CFD) liquidity provider in Belarus.
As Finance Magnates reported, B2Broker was the first approved forex prime broker in Belarus back in December of last year. Specifically, the forex licence was issued to Prime Brokerage Services Limited, known as B2Prime, the prime brokerage of the B2Broker group of companies.
The National Bank of the Republic of Belarus, who granted the licence, is the regulator for the over the counter (OTC) forex markets, and all entities engaged in transactions with non-deliverable OTC financial instruments.
B2Prime expansion plans
According to the statement published by the liquidity and technology provider to the FX and crypto industries, the newly acquired licence and the opening of its office in Belarus is part of the company’s strategic plans to establish a presence in all the significant jurisdictions, with the ultimate goal of becoming a global liquidity provider.
Royal C Bank on Why Crypto is Still the Name of the GameGo to article >>
Commenting on the development the CEO and Founder of B2Broker, Arthur Azizov, said in the statement: “We are delighted to have secured regulatory approval from Belarus and to be the first liquidity provider worldwide to obtain this license.
“Our clients across the globe will be able to benefit from an enhanced level of protection, safe in the knowledge that they are dealing with a world-leading, multi-regulated technology and liquidity provider. Moreover we are glad to announce the official opening of our office in Belarus. We hope it will bring many new horizons to B2Broker’s future.”
As Finance Magnates analysed, more and more brokers are flocking to Belarus, particularly after Russia started to crack down on foreign brokers in the country. The attractiveness of Belarus stems from its close proximity to Russia but its more friendly regulation towards FX.
In addition to securing the FX licence, B2Prime is also becoming a member of the local Association of Financial Market Development (ARFIN).