AGFX secures Australian Financial Services License

Argentex Group PLC

04 June 2024

 

                                        COMPANY REGISTRATION NUMBER 11965856

 4 June 2024

Argentex Group PLC

("Argentex" or the "Group")

Argentex secures Australian Financial Services License

Argentex Group PLC (AIM: AGFX), the global specialist in currency risk management and alternative banking, is pleased to announce that it has been granted its Australian Financial Services License (AFSL), a pivotal step in the business's strategic plan.  

The license, granted by the Australian Securities and Investments Commission (ASIC), allows Argentex's Australian entity (Argentex Pty Ltd) to offer bespoke currency risk management solutions and global accounts to wholesale clients across Australia.

A Strategic Milestone

With a strong track record in delivering tailored foreign exchange services to corporate clients and financial institutions, the Australian license underscores Argentex's commitment to providing best-in-class solutions and empowering Australian businesses to effectively navigate currency volatility. Following a successful expansion in Europe, the new license manifests Argentex's growth strategy to scale globally.

Jim Ormonde, CEO at Argentex, commented: "Australia is a dynamic market with diverse currency needs and we are thrilled to receive the AFSL. It reflects our strong reputation and leverages the group's experience to diversify into broader alternative banking markets more progressively. As part of our long-term growth plans and strategy, the license highlights our conviction to transform the business into a global, cross-border, financial solutions provider."

Mark Brown, Managing Director for Australia, added: "Australia is an underserved market and one where technology alongside superior service presents exciting opportunities. The AFSL license empowers us to collaborate with Australian businesses to help them thrive in the global marketplace.

"With the AFSL in place, we are ready to serve Australian businesses with integrity, transparency, and reliability, showcasing our insights and risk management solutions across global FX markets. Our team looks forward to building lasting partnerships with clients and facilitating their growth."

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Note: 

Argentex Pty Ltd. is a registered independent remittance provider (registration number IND100838404-001) with AUSTRAC. The license, with registration number 540430, authorizes Argentex Pty Ltd. to provide international payments and currency risk management solutions to wholesale clients in Australia.

For further information, please contact:

Argentex Group PLC

Jim Ormonde - Chief Executive Officer

Guy Rudolph - Interim Chief Financial Officer

[e-mail]

Teneo (Financial PR)

James Macey-White / Victoria Boxall / Rashida Salemahomed

[e-mail], 020 7260 2700

Singer Capital Markets (Nominated Adviser and Broker)

Tom Salvesen / James Maxwell  / Angus Campbell

020 7496 3000

 

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