XTB Secures Key Licenses in Indonesia and UAE

XTB secures key licenses, unlocking growth in Indonesia and UAE and expanding global operations with strategic market entry. Publicly listed Polish fintech XTB (WSE: XTB) has achieved regulatory approval in both Indonesia and the United Arab Emirates (UAE), marking a significant expansion of its international operations beyond Europe.

XTB Secures Key Licenses to Broaden Operations

XTB’s Indonesian branch, XTB Indonesia Berjangka, has been granted a PALN license by Bappebti, the country’s regulatory authority. This license will allow XTB to offer stock and ETF investment services to Indonesian residents. As per a statement released in Polish, the company plans to initiate operations in Indonesia during the first half of 2025.

“This license brings us significantly closer to launching our operations in Indonesia,” stated Omar Arnaout, CEO of XTB, in an official commentary provided in Polish and translated to English. “The past months have been intense, as we undertook extensive organizational, regulatory, and technological work to prepare for entering this promising market. We estimate that we will be able to start operations there in the first half of 2025.”

Earlier this year, XTB acquired Indonesian broker Eagle Capital Futures, positioning Indonesia as a “Gateway to Asia” for the company. With a population comparable to that of the European Union, the country offers vast growth potential for XTB’s expansion in the region.

Separately, XTB obtained a Category 5 license from the UAE Securities and Commodities Authority (SCA). This complements the firm’s existing license from the Dubai Financial Services Authority (DFSA), acquired in July 2021. The new approval allows XTB to expand its operations beyond Dubai’s special economic zone and broaden its service offerings across the UAE.

XTB Eyes Asian Growth

XTB has been actively introducing new products in the Middle East, including ETF Investment Plans earlier this year. These efforts have translated into tangible success, as evidenced by a 44.7% year-over-year increase in operating revenue for the company’s Middle East operations in the third quarter of 2024.

The fintech firm also unveiled plans to launch a virtual wallet with multi-currency card functionality in its home market of Poland by the first quarter of 2025. Additional strategic initiatives are expected to be announced in early 2025, further reinforcing XTB’s commitment to growth and innovation.

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