Global fintech XTB expands its presence in MENA with new UAE license

XTB, a fintech company that provides access to global financial markets through an online investment platform and mobile app, has obtained a new license allowing it to strengthen its presence in the Middle East region.

XTB has ambitious plans for global expansion, targeting the MENA region, Latin America, and Asia. The new licenses in Indonesia and the United Arab Emirates marks a significant step in advancing these international goals.

Strengthening XTB’s presence in the Middle East region

XTB received a Securities and Commodities Authority (SCA) license in the United Arab Emirates. The 5th category license will allow the company to improve cost and operational efficiency, increase the scope of services provided to clients in the region, and increase employment and open a new office outside the special economic zone in Dubai. It is worth emphasizing that the Middle East region is one of the fastest growing in XTB in terms of operating revenues. In the third quarter of 2024 alone, they increased by 44.7% compared to the same period of the previous year.

New products enhance competitive advantage

Obtaining new licenses concludes a highly active year for XTB. Throughout 2024, the fintech company introduced a range of new products, making its investment application one of the most competitive on the market in terms of offering variety and financial market accessibility.

Looking ahead, 2025 is expected to be another intensive year for product development. In the first quarter, a virtual wallet with a multi-currency card will be rolled out to the European markets with more plans to be announced in the first weeks of the new year.