As Macqwerty is actively expanding the market by establishing Macqwerty EU, Macqwerty Europe is grasping attention by announcing its acquisition of the investment company license in Cyprus.
The company points out that it is an exceptional case for a CJK Tech company to hold both Europe Cyprus CySEC and Indonesia licenses. On the 22nd, Macqwerty Europe announced that they have obtained the license for an investment company in Cyprus.
Accordingly, Macqwerty is now able to provide services to Korea, Japan, Iceland, Liechtenstein, and Norway as pilot service countries, following the pre-existing countries, Singapore, Vietnam, Indonesia, and Australia.
Macqwerty Europe must abide by requirements such as the adequacy of customer funds separation capital under the Second Financial Instruments Investment Guideline Mifid II, which is a European financial regulator.
Earlier this March, Macqwerty announced that it established Macqwerty Europe to expand markets in Europe and the Middle East. The company explained that by doing so, it provides various financial securities derivatives such as CFD securities, global stock options, and volatile financial products. Macqwerty EU obtained its license from Cyprus Securities and Exchange Commission CySEC, and its headquarters and regional offices are each located in Indonesia and Cyprus.
During that same month, the head of Macqwerty EU expressed his concerns about branching out to the Thai market. The European head states, “We are taking a cautious approach in entering the Thai market. Macqwerty is a company that fulfills its social responsibilities to provide global financial products and is a profound company that participates in the clean liquidity market. We are reviewing the advance on a thorough internal standard so that we can satisfy the interests of both customers and countries.”
He proceeded to say, “We cannot state an exact date we will enter the Thai market, but we are beginning to negotiate about Thai regulators on restricting foreign shares. We will continue to move towards launching the service in Thailand through communication.”
Because Macqwerty’s main products are comprehensive financial products such as CFD derived from overseas stock markets, the company explains they are cautiously approaching Thai, a country known to be difficult to access for foreign companies to enter, and focusing on spot trading services in entering the Thai market.
In the meantime, on the 13th, MACQWERTY Thailand, LTD, a local cooperative corporation in Thailand, released a message in an official press release that MACQWERTY does not provide comprehensive financial service products in Thailand without the approval of authorities.
Thai regulatory authorities explain that all companies that provide financial services to citizens in Thailand must be registered with their approval and that unapproved companies are not subject to financial ombudsman services or financial service compensation systems FSCS. MACQWERTY Thailand announced that they will officially launch the service in December this year in compliance with regulations internally.