LONDON: Plus500, a global multi‐asset fintech group operating proprietary technology-based trading platforms, has obtained a licence from the Canadian Investment Regulatory Organization (“CIRO”) in the significant and high-growth Canadian market.
This achievement marks an important milestone in Plus500’s ongoing strategic efforts to further expand into North America, with the extension of its services into the well-established and highly regulated Canadian market.
With this new licence, Plus500 will initiate its services within the Over-the-Counter (“OTC”) market and aims to further expand its local proposition by offering an omni-channel suite of products. This expansion aligns with Plus500’s strategic roadmap and vision to strengthen its international presence and deliver innovative solutions across multiple financial markets.
In recent years, the Group has established a highly successful track record of obtaining new regulatory licences in high-growth, strategically important markets including the US, Japan and the UAE among others. Today, the Group has 15 regulatory licences globally, representing an extremely valuable asset for Plus500 and a meaningful source of competitive advantage that provides a strong regulatory foundation for its global operations. As such, they strengthen the economic moat around the business and reinforce the enduring strengths of Plus500’s differentiated value proposition.
David Zruia, Chief Executive Officer of Plus500, commented: “We are delighted to have obtained this important authorisation from CIRO in Canada and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our customers.
This development highlights our strategic focus on broadening our product suite and expanding our market reach, while ensuring the highest standards of compliance and operational excellence.”