AT Capital Group Limited, a prominent fintech player known for its ATFX brand has joined hands with the Pacific China Friendship Association (PCFA) to forge a strategic partnership. This alliance solidified through a Memorandum of Understanding (MOU), aims to propel the economies of Pacific Island nations through financial solutions and development projects.
Through the signed MOU, AT Capital will reportedly gain a strategic avenue for potential investments in a regional bank, the statement released today (Tuesday) indicated. Additionally, this venture aims to bolster the economic foundations of the Pacific Island nations by improving their financial sectors and paving the way for development initiatives.
Eyeing Opportunities in the Pacific
Dr. Hiria Ottino, the President of PCFA, remarked: "PCFA will provide its full support to the benefit of the people of Tonga and the South Pacific Island countries; and will continue to be involved in supporting and contributing to the Pacific's economic development in various industries, such as tourism, fisheries, and agriculture."
At the core of the strategic alliance is the alignment with the Maritime Pearl Road, a southward extension of the Belt and Road Initiative. By focusing on important areas such as trade opportunities, investments, and infrastructure, this collaboration seeks to uplift the economies of the regions, the two organizations said.
AT Capital Group Limited is a fintech company with a robust global presence. Its brand ATFX offers online trading services, market analysis tools, and artificial intelligence (AI), powered financial platforms. On the other hand, Pacific China Friendship Association (PCFA) is a non-government organization founded by Princess Salote Mafile'o Pilolevu Tuita of Tonga.
ATFX's Global Licensing
In July, ATFX took a significant step in expanding its global presence with the strategic acquisition of Rakuten Securities Australia Pty Ltd., a subsidiary of Rakuten Securities, Inc. By bringing RSA into the fold, ATFX opened its doors to the Australian market. The fintech firm is regulated by multiple regulatory bodies, including FCA in the UK, CySEC in Cyprus, SCA in UAE, and FSA in Mauritius.
In the Middle East, ATFX obtained an Arrangement and Advice license from the UAE's Securities and Commodities Authority (SCA). This Category Five license granted the company the capability to offer financial consultation, analysis, and client introduction services in the region, Finance Magnates reported.
Similarly, ATFX partnered with ASWAQ Invest, a prominent player in the Jordanian financial sector, last year. This partnership empowers ATFX to legally offer trading services in Jordan.
