London-based foreign exchange risk management and alternative banking specialist Argentex Group plc (LON:AGFX) has announced that it has been granted an Australian Financial Services License (AFSL), a key step in the business’s strategic plan.
The licence, granted by the Australian Securities and Investments Commission (ASIC), enables Argentex’s Australian entity (Argentex Pty Ltd) to offer bespoke FX risk management solutions and global accounts to wholesale clients across Australia.
The company said that with a strong track record of providing tailored foreign exchange services to corporate clients and financial institutions, the Australian license underlines Argentex’s commitment to providing best-in-class solutions and enabling Australian businesses to effectively address currency volatility . After a successful expansion in Europe, the new license expresses Argentex’s growth strategy for global scale.
Jim Ormonde, CEO of Argentex, comments:
“Australia is a dynamic market with diverse currency needs and we are excited to receive AFSL. It reflects our strong reputation and leverages the group’s experience to differentiate itself in wider alternative banking markets more progressively. As part of our long-term growth plans and strategy, the license underlines our belief in transforming the business into a global, cross-border, financial solutions provider.”
Mark Brown, Managing Director for Australia, highlights:
“Australia is an underserved market and one where technology alongside superior service offers exciting opportunities. Our AFSL license enables us to work with Australian businesses to help them thrive in the global market.
“With the AFSL in place, we are ready to serve Australian businesses with integrity, transparency and credibility, bringing our knowledge and risk management solutions to the global foreign exchange markets. Our team looks forward to building lasting partnerships with clients and facilitating their growth.”
About Argentex
Argentex Group plc is a global specialist in foreign exchange risk management and alternative banking. Founded in 2012 and based in London, Argentex listed on London’s AIM market in mid-2019 and has since added operations in Amsterdam and Australia.