DUBAI: International brokerage firm Capex.com has raised a total of $21 million in a new funding round, as interest in online trading and investment grows.
The proceeds will be used to launch new products, the company said in a statement, as well as for its expansion plans in key markets around the world.
Capex.com, which is the official trading partner of Juventus, currently operates four trading licenses, one of which is from the Abu Dhabi Global Market Financial Services Regulatory Authority.
The company said it saw rapid growth last year, driven by younger people taking an interest in online trading.
“Although millennials are still the leading force behind last year’s massive growth of the fintech industry, we can see that everyone is now using apps to manage their finances, make payments, trade and invest,” Octavian Patrascu, CEO of Key Way Markets that owns Capex.com, said.
He said 2021 is a “key moment for financial markets” given the changes brought by the COVID-19 pandemic that has pushed economies to the wall.
The company got its Abu Dhabi license last year – four years after it was first founded. It recently opened an office in Spain, and is expanding its operations to Latin America and Southeast Asia.
Abu Dhabi broker Capex.com raises $21m and targets millennial investors
https://arab.news/zdbpc
Abu Dhabi broker Capex.com raises $21m and targets millennial investors
- The proceeds will be used to launch new products and for its expansion plans in key markets around the world
Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn
RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.
On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.
The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.
According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.
The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.
The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.
The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.
Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.
The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.
Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.
Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.
The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.
Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.
