FinTech giant Plus500 is entering Latin America for the first time, having secured regulatory approval to open a representative office in Colombia.
The FTSE 100 constituent confirmed it has received authorisation from the Colombian Financial Superintendence as it looks to carry out its global expansion strategy.
The Colombian green light comes just a day after the business announced a new $90m share buyback programme, following the near-completion of an existing $110m repurchase.
The two initiatives form part of a $165m return to shareholders flagged in the group鈥檚 financials for the first half of 2025, with the remaining $75m to be paid as dividends.
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鈥淲e are delighted to have obtained authorisation to enter the Colombian market,鈥� said David Zruia, CEO of Plus500.
鈥淭his is another significant milestone reflecting our commitment to growing the group鈥檚 presence in new markets worldwide, while ensuring that we continue to operate in full compliance with local regulatory frameworks. This authorisation represents an important step in establishing our position in Latin America.
鈥淧lus500 remains focused on delivering long-term, sustainable growth by expanding into new territories, enhancing its technology-led trading platforms, developing innovative new products and services for customers and maintaining the highest regulatory standards.鈥�
The company plans to develop a tailored and localised trading experience for users in Colombia, supporting its ambitions to build a stronger presence in the region.
It already holds licences in key jurisdictions such as the UK, US, Japan, Singapore, Israel and the UAE, and reported record customer deposits of $3.1bn for the first half of the year.
The first half of FY 2025 for the London and Israel-headquartered firm also brought revenue of $209.3m and EBITDA of $91.3m.
In the last 12 months, Plus500 has seen its share price rise from 2,532p to 3,112p, giving it a market cap of 拢2.21bn.
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