Brokerage conglomerate Doo Group made two separate announcements on Friday, confirming it had acquired both a license in Cyprus and a rival firm in Indonesia.
TradeInformer first reported that Doo Financial, the company’s brokerage division, was hiring executives in Cyprus in August of last year.
The company confirmed on Friday that it has now received approval for a license from the Cyprus Securities and Exchange Commission (CySEC).
Doo’s CySEC license means it can now access markets across the European Union.
“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion,” said Costas Kappai, Executive Director at Doo Financial EU.
“This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe.”
Doo Financial acquires Indonesian broker
Doo Group also confirmed on Friday that it has entered the Indonesian market via the acquisition of a local firm.
In a somewhat peculiar announcement, the company revealed almost none of the details behind the acquisition, such as the name of the company they’ve actually acquired.
However, the firm did list a new Indonesian URL which is presumably where future clients from the Southeast Asian country will be directed to.
No company with the name ‘Doo’ currently appears in the Indonesian regulator’s list of licensees.
