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MultiBank Group secures CySEC license ahead of going public in 2023

Rick Steves

“MultiBank Group has been operating in the financial industry with an unblemished track record for over 20 years, and as such, it has built a reputation for providing the highest level of funds security, first-class financial services, award-winning technology and products that have made MultiBank the world’s most widely used financial derivatives broker with a loyal customer base of over 1,000,000 users”.

MultiBank Group has been granted a license by the Cyprus Securities and Exchange Commission (CySEC) through its EU-based subsidiary MEX Europe Ltd.

The CySEC license authorizes the FX & CFD brokerage firm to provide services to clients in full compliance with the applicable laws in European markets.

MultiBank has an ambitious expansion strategy ahead of going public this year

This regulatory milestone for MultiBank Group comes as part of its geographic and product expansion strategy ahead of going public in 2023.

Other ground-breaking projects by MultiBank include an inter-bank ECN trading platform for financial institutions and banks, a digital assets exchange regulated in Australia, an enhanced social trading application, and a global digital payments processor.

Besides the newly obtained CySEC license, MultiBank Group secured licenses from SCA of the UAE and MAS of Singapore in October 2022. The brokerage firm is also authorized by ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, and VFSC.

With the addition of CySEC, MultiBank is now approved by 12 global regulators, which is further testament to its secure trading environment for clients worldwide. The company has over 25 branches worldwide.

Naser Taher, Chairman of MultiBank Group, said: “We are immensely proud of obtaining the CySEC license, reflecting our dedication to continuously developing the world’s leading regulated financial products and services ecosystem. MultiBank Group has been operating in the financial industry with an unblemished track record for over 20 years, and as such, it has built a reputation for providing the highest level of funds security, first-class financial services, award-winning technology and products that have made MultiBank the world’s most widely used financial derivatives broker with a loyal customer base of over 1,000,000 users”.

MultiBank Group was founded in the United States in 2005 and is headquartered in Dubai since late 2022. The broker hired Admirals’ alumni Roman Krutyanskiy as Chief Business Development Officer for this next phase of growth.

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