Seizing opportunities in the broader European landscape, Monex Europe Holdings Limited ("MEHL") has achieved a dual milestone with the acquisition of both an investment and payment licence in Spain, paving the way for the establishment of two new subsidiaries in the region; investment firm, Monex Europe Markets S.V., S.A.U. ("MEMS"), and authorised payment institution, Monex Europa S.L. ("MESL").
MEHL is part of the wider financial services group, Monex S.A.P.I. de C.V. ("Monex"), a global investment-grade financial services institution and one of the world's leading commercial foreign exchange specialists. The Monex group already operates numerous subsidiaries in the FX industry across the UK, Netherlands, Luxembourg, Toronto, Singapore, USA and Mexico. The two new subsidiaries signal further expansion of Monex's vast global footprint and its dedication to the European market.
Enhancing existing European operations, the attainment of an investment licence from the Comisión Nacional del Mercado de Valores enables MEMS to empower clients with a diverse range of non-deliverable FX derivatives and establishes Monex as a trusted participant in the ever-growing investment sector. Concurrently, the permission to act as an authorised payment institution, granted by Banco de España, facilitates MESL's offering of deliverable FX and secure, efficient payment services tailored to the dynamic needs of the local Spanish and wider European market.
Reaffirming a robust commitment to clients in the European Economic Area, these vital acquisitions provide the framework for Monex to revolutionise operations and maximise contributions to Spain's financial landscape, serving as a catalyst for economic growth and financial empowerment in the region.
Mauricio Naranjo, CEO of Monex said: "We are thrilled to have achieved this dual milestone, which significantly extends our remit in Europe and reflects the steep growth Monex has seen over 2023. These licences firmly position Spain as our European hub, benefitting both existing and new clients across the continent."
Nick Edgeley, CEO of Monex Europe, said: "This development showcases Monex Europe's unwavering commitment to providing cutting-edge financial solutions to the local Spanish market whilst extending its scope across the broader European payments and investments landscape. We are always on the lookout for growth opportunities and look forward to embarking on this next chapter of our journey."
Ignacio Lizarraga, General Manager of Monex Europe in Spain, said: "These licences enable us to provide our clients in Spain and beyond with the highest standards of transparency and quality, cementing our position as a market-leader in the industry. We are excited to leverage the opportunities these licences unlock to provide a best-in-class service."
View source version on businesswire.com: https://www.businesswire.com/news/home/20240123877266/en/
Contacts:
Citigate Dewe Rogerson
Monexeurope@citigatedewerogerson.com
