Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed USD$1 trillion in 2023, has announced that it is joining the UAE’s #NextGenFDI initiative for digitally-enabled businesses as it opens a new subsidiary, Capital Com MENA Securities Trading LLC (Capital Com MENA), based in the UAE.
The new entity will be the operating headquarters for the region as the firm consolidates its position in the UAE market and as it looks to expand across MENA and Asia. The announcement comes after the company last week received full regulatory approval from the UAE Securities and Commodities Authority (SCA).
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said,
“The UAE is attracting world-class technology companies with bold growth plans and global ambitions. These businesses recognise that the UAE offers not just one of the most vibrant ecosystems in the world, but also serves as an access point to expanding regional economies and the high-growth markets of Asia and Africa.
"Our #NextGenFDI programme continues to draw top global firms and is becoming an essential pillar as the UAE seeks to attract capital in all its forms – technological, human and financial. Companies like Capital.com are helping us to secure our position as one of the world’s most dynamic, future-focused global hubs,”
he added.
Kypros Zoumidou, Group Chief Executive Officer, Capital.com, said,
“Capital.com’s foray into the UAE marks an important development in our global growth trajectory. As a cutting edge fintech company regulated across multiple jurisdictions, the UAE was a natural choice for our first subsidiary in the region. With its business-friendly ecosystem, supportive market-entry requirements, flourishing knowledge-based economy, and perfect location as a base for wider expansion, the UAE continues to cement its position as a dynamic tech hub for innovative companies with global ambitions. We look forward to joining the #NextGenFDI community.”
Capital.com is poised to join the UAE's #NextGenFDI Programme, a government initiative facilitating global companies' expansion in the UAE. Previously, in 2022, it sponsored the NextGenTalent initiative, focusing on grooming local youth for the tech sector. NextGenTalent engaged 5,000 Emirati students in advanced technology skills taught by industry leaders like META, Oracle, and Google. Through #NextGenFDI, Capital.com anticipates leveraging the UAE's tech ecosystem and talent pool. The company also supported the Ministry of Economy's activities at COP 28 Trade Day. This move underscores Capital.com's commitment to fostering tech talent and expanding its presence in the UAE.
News Source: Emirates News Agency
