Polish fintech leader XTB (WSE: XTB), a publicly listed entity, has solidified its international expansion with regulatory approvals in Indonesia and the United Arab Emirates (UAE). These approvals signify the company’s strategic growth beyond its European roots, reinforcing its global presence in key markets.
XTB Indonesia Berjangka, the company’s Indonesian subsidiary, has secured a PALN license from Bappebti, the Indonesian regulatory authority. This pivotal approval enables XTB to offer stock and ETF investment services to residents of the Southeast Asian nation. Operations in Indonesia are slated to begin in the first half of 2025, marking a significant step in XTB’s Asia-focused growth strategy.
This regulatory milestone follows XTB's acquisition of the Indonesian brokerage firm Eagle Capital Futures in March 2024. With Indonesia's vast population—comparable in size to the entire European Union—XTB aims to position the country as a strategic "Gateway to Asia." The move highlights the company’s commitment to tapping into emerging markets with high growth potential.
In addition to its Indonesian progress, XTB has secured a Category 5 license from the UAE Securities and Commodities Authority (SCA). This new approval broadens the company’s operational scope in the Middle East, allowing it to extend services beyond Dubai’s special economic zone.
Since July 2021, XTB has been operating under a license issued by the Dubai Financial Services Authority (DFSA). The new SCA license is expected to accelerate XTB’s growth in the UAE by enabling more comprehensive offerings tailored to the region’s financial landscape.
The Middle East remains a key growth area for XTB, driven by innovation and product diversification. Earlier in 2024, the company introduced ETF Investment Plans to the region, enhancing its portfolio of client-focused financial solutions.
XTB’s regional efforts are yielding tangible results. According to the company’s latest financial data, Middle East operations posted a 44.7% increase in operating revenue during Q3 2024 compared to the same period the previous year.
Beyond its international expansion, XTB continues to innovate in its home market of Poland. In Q1 2025, the company plans to roll out a virtual wallet with multi-currency card functionality, offering enhanced convenience for its clients. Further strategic initiatives are expected to be unveiled in early 2025, underscoring XTB’s forward-looking approach to growth and technological advancement.
With regulatory approvals in Indonesia and the UAE, XTB is well-positioned to advance its mission of providing cutting-edge financial services to a broader audience. These developments mark another chapter in the company’s journey to becoming a global fintech powerhouse, leveraging strategic market entry and product innovation to drive success.
