XS.com, the financial services and fintech provider, said Wednesday that it has been granted a licence from the Financial Services Commission (FSC) in Mauritius, marking a further step in its international regulatory expansion.
XS.com Granted License From the Financial Services Commission (FSC) in Mauritius
The new authorisation provides the multi-asset broker with a licensed entity in Mauritius, strengthening its ability to serve clients worldwide.
XS.com, founded in Australia in 2010, said the move underlines its commitment to compliance and high-quality service as it scales its global operations.
Mohamad Ibrahim, Group Chief Executive Officer at XS.com, said: “We are excited about securing a new licence from the Financial Services Commission (FSC) Mauritius, as we continue to grow and enhance our offerings in the financial trading space.”
Ibrahim added that the new licence “not only solidifies our presence in the financial services industry, but also aligns with our core principles of prioritising regulatory compliance and delivering exceptional service.”
The FSC, established in 2001, is responsible for regulating and overseeing non-bank financial services in Mauritius, including licensing, monitoring, and safeguarding the integrity of the market.
The regulator has positioned Mauritius as a competitive financial services centre with ambitions to develop into a global financial hub.
With the addition of Mauritius, XS.com now operates under regulatory oversight in multiple jurisdictions, including Australia (ASIC), Cyprus (CySEC), Seychelles (FSA), Malaysia (LFSA), South Africa (FSCA), and Kuwait (MOCI).
The group recently expanded in the Middle East, launching its brand in Kuwait with a new office in Kuwait City.
