Foreign exchange and crypto liquidity and technology provider B2Broker has extended its presence in Asia with a new office in Malaysia. The company has outlined in an announcement that it is looking to continue its expansion in the region as it sees increased opportunity for growth.
The Far East has become something of a regulatory safe haven for the FX industry. With the regulatory crackdown in Europe intensifying, the company is looking to spread to new markets.
The company also diversified its portfolio of products with the launch of a B2BX institutional cryptocurrency liquidity product. The company is looking to diversify its product base at a time when cryptocurrencies have been booming.
Malaysia is at the heart of the ASEAN region
The Malaysian office of the company is opened via a local partnership with Yogeshwaran Chandra Dash. The Kuala Lumpur native with over 10 years experience in the financial market is tasked with the development of the Malaysian market for the firm.
The venue will start operating in the middle of February 2018 with a top location in Selangor. The company is recruiting talent in the region to better cater to the needs of its clients in Malaysia.
Commenting on the news, Chief Operating Officer of B2Broker, Evgeniya Mykulyak, said: “We have on-boarded several important clients from this region, with our first international client having coincidentally hailed from Malaysia. We have very promising goals for our new office and expect to connect over 20 brokerage companies by the end of 2018.”
Regional Market Scope
Malaysia is at the heart of the ASEAN region. Its neighbour Singapore is the key financial center for the nations that are driving growth in South-East Asia. With over 640 million people, the area has only 100 million fewer people than the EU does.
The ASEAN region includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.