Polish fintech XTB has secured regulatory approvals to expand operations into Indonesia and the UAE.
In Indonesia, XTB’s local subsidiary, XTB Indonesia Berjangka, obtained a PALN license from Bappebti, enabling it to offer stocks and ETF investments. Operations are set to begin in early 2025, following the company’s acquisition of Eagle Capital Futures earlier this year. CEO Omar Arnaout described Indonesia as a key market and a potential “Gateway to Asia.”
Learn how to buy and sell popular assets with Top Forex broker XTB
In the UAE, XTB received a Category 5 license from the Securities and Commodities Authority (SCA), allowing it to operate outside Dubai’s special economic zone.
XTB’s Middle East revenue increased by nearly 45% in Q3 2024. Additionally, the company plans to launch a virtual wallet with multi-currency card functionality in Poland by Q1 2025.
