B2PRIME Group has acquired a Financial Services Provider licence from the FSCA in South Africa, expanding its regulatory framework that includes licences from Cyprus, Mauritius, and Seychelles. This advancement enables the company to offer comprehensive financial services directly to local businesses, enhancing operational efficiency and compliance. The licence allows access to a wide range of liquidity sources across various asset classes for local institutional clients.
B2PRIME Group, a significant multi-asset Prime of Prime liquidity provider, has obtained a Financial Services Provider (FSP) licence (No. 54191) from the South African Financial Sector Conduct Authority (FSCA) through its subsidiary, B2B Prime Services Africa (Pty) Ltd. This licence is the fourth for the company, complementing its existing operations in Cyprus, Mauritius, and Seychelles, which expands its regulatory framework and commitment to compliance in emerging markets.
The FSCA implements strict regulatory standards to ensure that licenced entities adhere to governance and operational integrity while protecting clients. B2B Prime Services Africa (Pty) Ltd will now provide an array of regulated financial services to local businesses, minimizing reliance on foreign liquidity sources and creating a more efficient, locally compliant service environment that enhances growth opportunities and risk management solutions for clients.
The licence provides clients access to extensive liquidity sourced from Tier-1 providers across over 235 instruments in diverse asset classes, such as FOREX, Cryptocurrencies, Spot Indices, and Precious Metals. Additionally, B2PRIME Group offers advanced connectivity solutions, including OneZero, PXM, Centroid, FXCubic, FIX API, and cTrader, ensuring seamless integration and optimized execution efficiency.
Eugenia Mykulyak, Founder and Board Member of B2PRIME, emphasized the significance of their entry into South Africa, highlighting their commitment to facilitating local partnerships and enhancing service accessibility. B2PRIME Group aims to foster sustainable growth while adhering to the highest regulatory standards to benefit local brokers, hedge funds, and institutional investors.
Securing the FSCA licence marks a vital regulatory success for B2B Prime Services Africa, laying a strong groundwork for future regional growth. By leveraging B2PRIME Group’s global expertise and infrastructure, the company can deliver transparent and reliable financial services tailored to local market needs. Established in Cyprus in 2020, the group’s ongoing regulatory expansions reflect its strategy to enhance its global presence within the financial sector.
B2PRIME Group’s acquisition of the FSCA licence reflects a strategic move to enhance its operational presence in Africa, a growing hub for global finance. With existing licences in Cyprus, Mauritius, and Seychelles, securing the South African licence solidifies the firm’s regulatory framework. The FSCA’s stringent standards ensure client protection and operational integrity, which are critical in the financial services industry. This expansion positions B2PRIME to better serve institutional clients in emerging markets.
B2PRIME Group’s recent licencing by the FSCA signifies a pivotal advancement in its operations, providing a solid foundation for growth in South Africa. The firm’s commitment to compliance and enhancing local service delivery through regulated financial offerings strengthens its market position. As it continues to expand globally, the support for local businesses through this new licence will facilitate access to critical liquidity and robust risk management solutions, further establishing B2PRIME as a key player in the financial services industry.
Original Source: ffnews.com
