XTB, a fintech offering access to financial markets through an online investment platform and mobile app, has obtained two new international licenses. These licenses will enable the company to begin operations in Indonesia and strengthen its presence in the Middle East.
Entering the Indonesian Market
XTB’s plans to enter the Indonesian market were announced earlier in 2024. In December, its local subsidiary, XTB Indonesia Berjangka, received the PALN license from Bappebti, Indonesia’s regulatory authority. This allows Indonesian residents to access investments in stocks and ETFs offered by XTB, significantly expanding investment opportunities in the region.
Expanding in the Middle East
At the end of December, XTB also obtained a Securities and Commodities Authority (SCA) license in the United Arab Emirates. This fifth-category license will allow XTB to improve operational and cost efficiency, expand its range of services for clients in the region, increase employment, and open a new office outside the Dubai free economic zone, further supporting its regional growth.
The Middle East is one of XTB’s fastest-growing markets, with operational revenues in the region increasing by 44.7% in Q3 2024 compared to the same period the previous year.
New Plans and Features from XTB
XTB has also announced plans to introduce a virtual wallet with a multi-currency card on the Polish market in Q1 2025. Further details about the company’s initiatives will be revealed in the coming weeks.
In recent months, XTB has rolled out several new features in its mobile app. For example, UK investors can now access more efficient long-term investment options through the ISA account. Additionally, a new app interface was launched for the UK market.
With these new licenses and its ongoing expansion, XTB continues to solidify its position in international markets, focusing on innovation and adapting to the needs of local investors.
