Monex Europe obtains Spain’s CNMV license to offer FX derivatives and payments

Rick Steves

“These licenses enable us to provide our clients in Spain and beyond with the highest standards of transparency and quality, cementing our position as a market leader in the industry. We are excited to leverage the opportunities these licenses unlock to provide a best-in-class service.”

Monex Europe Holdings Limited (MEHL) has made significant strides in the European market with the acquisition of an investment and payment license in Spain.

This development has led to the establishment of two new subsidiaries: Monex Europe Markets S.V., S.A.U. (MEMS) for investment services, and Monex Europa S.L. (MESL) for authorized payment services.

Non-deliverable FX derivatives, deliverable FX, and payments

MEHL is a part of the global financial services group Monex S.A.P.I. de C.V. (Monex), known for its expertise in commercial foreign exchange. Monex operates in various countries, including the UK, Netherlands, Luxembourg, Toronto, Singapore, USA, and Mexico. The addition of these Spanish subsidiaries marks a significant expansion of Monex’s global presence, especially in Europe.

MEMS has received an investment license from the Comisión Nacional del Mercado de Valores, enabling it to offer a range of non-deliverable FX derivatives. This positions Monex as a key player in the investment sector.

MESL, granted permission by Banco de España, will provide deliverable FX and payment services, meeting the needs of the Spanish and European markets.

“These licenses firmly position Spain as our European hub”

Mauricio Naranjo, CEO of Monex said: “We are thrilled to have achieved this dual milestone, which significantly extends our remit in Europe and reflects the steep growth Monex has seen over 2023. These licenses firmly position Spain as our European hub, benefitting both existing and new clients across the continent.”

Nick Edgeley, CEO of Monex Europe, said: “This development showcases Monex Europe’s unwavering commitment to providing cutting-edge financial solutions to the local Spanish market whilst extending its scope across the broader European payments and investments landscape. We are always on the lookout for growth opportunities and look forward to embarking on this next chapter of our journey.”

Ignacio Lizarraga, General Manager of Monex Europe in Spain, said: “These licenses enable us to provide our clients in Spain and beyond with the highest standards of transparency and quality, cementing our position as a market leader in the industry. We are excited to leverage the opportunities these licenses unlock to provide a best-in-class service.”

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <