Multi-asset liquidity provider Broctagon Fintech Group has acquired a Labuan money broking license to support demand of growing Asian market.
Broctagon Fintech Group specializes in prime liquidity provision, brokerage technology solutions and enterprise blockchain development. The firm is headquartered in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam.
The Labuan Money Broking License is officially approved by the Labuan International Business and Financial Centre (Labuan IBFC) under its statutory body Labuan Financial Services Authority (Labuan FSA). It enables Broctagon to now offer regulated bank-grade FX liquidity to its clientele. Having been part of the Asian FX ecosystem for close to a decade, the liquidity provider is set to offer its clients a tailor-made experience that directly aligns with their individual objectives.
Underpinning this strategic manoeuvre is the liquidity provider’s enlistment of Cecilia Chan, Singapore Exchange’s former VP, as its Executive Director and Head of FX. As one of the few female leaders within the FX sphere, her experience is expected to expand the liquidity arm of the business, Broctagon Prime Markets Limited, across the region.
“Cultural and physical differences in Asian markets often lead to friction in FX processes,” said Chan. “By understanding their needs, we can offer our clients truly bespoke, holistic trading solutions. Our unique understanding of both FX and cryptocurrency also allows us to identify opportunities to support brokers in expanding their businesses into other asset classes.”
“Covid-19 has changed the international trading landscape and we see something stirring in Asian trading,” said Don Guo, CEO of Broctagon Fintech Group. “The capital markets in the region are becoming increasingly sophisticated and there is fresh demand for exceptional trading infrastructure to support this evolution, with Labuan playing a growing role as a financial and trading hub.”
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