ICM.com Says It Secured Seychelles FSA License, Citing Seven Jurisdictions
ICM.com said on 20 November 2024 that it secured a license from Seychelles' Financial Services Authority and that it is now regulated in seven jurisdictions. The company listed UK FCA, Abu Dhabi FSRA, Mauritius FSC, South Africa FSA and Switzerland ARIF among them, but did not name the licensed legal entity or all seven jurisdictions.
View original sourceSeychelles license
ICM.com said it obtained a license from the Financial Services Authority in Seychelles as part of its global growth strategy. The announcement did not specify the legal entity that received the license, its license number, an effective date, or the products and client categories it covers.
Regulatory footprint
According to ICM.com, the Seychelles addition brings its regulatory coverage to seven jurisdictions. The notice names the UK FCA, Abu Dhabi FSRA, Mauritius FSC, South Africa FSA and Switzerland ARIF, and says there are others. It does not list all seven or explain which entity holds each authorization. The claims are the company's; the announcement did not provide independent verification.
CEO comment and plans
CEO Shoaib Abedi said the Seychelles license "represents a significant milestone for the company" and supports expansion into new regions and growth in Latin America and Southeast Asia. He also said: "Our clients can rest assured they are partnering with one of the most regulated and innovative fintech firms in the industry." ICM.com said it plans to expand product offerings and invest in advanced AI technology, without giving a timetable or further details.
Other referenced activity
The notice also referred to ICM.com's expansion efforts across Latin America, Africa and India and to an earlier strategic partnership with Swisspod Technologies, which the notice described as a Swiss-American leader in Hyperloop technology. It did not describe the partnership's terms or how it relates to the Seychelles license.
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