Asset trading app Plus500 is expanding to Latin America following regulatory approval for a representative office in Colombia.
The London-listed fintech announced on Tuesday that it had obtained authorisation from the Colombian Financial Superintendence.
This represents the firm’s first Latin American expansion, as the London-headquartered business aims to establish its global footprint.
“We are delighted to have obtained authorisation to enter the Colombian market,” said David Zruia, chief executive officer of Plus500.
“This is another significant milestone reflecting our commitment to growing the Group’s presence in new markets worldwide, while ensuring that we continue to operate in full compliance with local regulatory frameworks. This authorisation represents an important step in establishing our position in Latin America.
“Plus500 remains focused on delivering long-term, sustainable growth by expanding into new territories, enhancing its technology-led trading platforms, developing innovative new products and services for customers and maintaining the highest regulatory standards.”
The company plans to develop a tailored, localised service for the Colombian market.
Plus500 is a multi-asset trading group offering CFDs, stocks and futures investments. The group holds operating licences in the UK, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, Seychelles, the United Arab Emirates, the United States, Estonia, and Japan.
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