26 Degrees Global Markets, previously known as Invast Global, earned a broker license from the Cyprus Securities and Exchange Commission (CySEC), solidifying its foothold in Europe.
26 Degrees Gains New License
This newly acquired license from the Mediterranean nation will enable the company to expand its operations throughout the European Economic Area (EEA). Based in Sydney, Australia, the Australian Securities and Investment Commission. (ASIC) already regulates 26 Degrees.
The Chief Commercial Officer of EMEA at 26 Degrees, Lochlan White, expressed excitement about how the license approval would benefit their European clientele. He also emphasized that it manifests their commitment to building a robust and sustainable business in Cyprus.
26 Degrees had already marked its presence in Cyprus before the CySEC license acquisition by establishing an office and strengthening its team under Riana Chaili, the CEO of EMEA.
Chaili expressed immense pride in obtaining the CySEC license, highlighting the company’s dedication to operating with the highest transparency and integrity. She further indicated that this new license reinforces their global position as a leading multi-asset prime broker.
26 Degrees’ Calculated Moves
Just a few months before this new license acquisition, the company underwent a rebranding from Invast Global. The company believes that the new brand will aid in repositioning and capturing a significant market share in the upcoming years, specifically in the prime brokerage market, following the departure of several major brands.
On the new license, James Alexander, the Global Chief Commercial Officer at 26 Degrees, applauded the efforts of the Cyprus operational team, which included legal, compliance, and management professionals. He emphasized that they were thrilled to be granted the license by CySEC after meeting stringent standards.
In the past, 26 Degrees (in its prior incarnation as Invast Global) had made a bid for GMO Financial Holdings-owned GMO-Z.com Trade UK Limited. However, the deal fell through, leading to the disbandment of GMO-Z.com.
