Broctagon Scores New Labuan Money Broking Licence

​Broctagon Fintech Group, a multi-asset liquidity and technology provider, has announced that it landed a Money Broking Licence from the Labuan International Business and Financial Centre (Labuan IBFC). The licence will allow Broctagon to open the gateway to the Asia-Pacific markets for its clients around the world. Labuan FSA is the statutory body responsible for the development and administration of the Labuan International Business and Financial Centre (Labuan IBFC). Labuan FSA’s key role is to license and regulate licensed entities operating within Labuan IBFC and to ensure all such entities remain in compliance with the internal and international best standards adopted by the jurisdiction. 

The Group is based in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam. Having already hold an EU-regulated Cyprus Securities and Exchange Commission (CySEC) licence, the Labuan-licenced entity under the Labuan Financial Services&Securities Act (LFSSA) will also be able to expand its presence and offerings in the region’s FX markets. 

With Labuan IBFC’s Money Broking Licence, the company can now provide more competitive rates, robust liquidity, and better risk management. With this wider spectrum of financial services, clients can propel to success with its technological backbone and the security of Labuan FSA.

“This is an opportune time to receive Labuan IBFC’s Money Broking Licence because we are keen to meet the rapidly increasing demands of the market as the Asia market matures.

We have high expectations that attaining regulation in such an economically-strong region like Labuan will elevate us as brokerage technology providers. In combination with our EU-regulated licence from CySEC, clients can now experience more holistic trading solutions from both Europe and Asia.” said Don Guo, CEO of Broctagon Fintech Group.