Exciting Developments at FXPRIMUS: Recognitions and Fintech Forward at the 2nd Symposium on Virtual Assets
Port Vila, Vanuatu – FXPRIMUS, a leading player in the global financial markets, is thrilled to announce its significant contributions and recognitions at the recently held “2nd Symposium on Virtual Assets: SHAPING TOMORROW – Exploring the Role of the Financial Dealers License & Virtual Assets in National Development”. The symposium, organized by the Vanuatu Financial Services Commission (VFSC) on June 27, 2024, spotlighted FXPRIMUS for its outstanding achievements in the financial sector.
Prestigious Accolades for FXPRIMUS at the 2024 FDL Awards
During the symposium, FXPRIMUS was honored by the VFSC’s Commissioner Mr. Branan Karae and the Prime Minister of Vanuatu with the First Prize for Outstanding Technical Contribution and Support through its subsidiary, Primus Markets International. Additionally, the company received the Second Runner-Up for Best Community Support, underscoring its commitment to community engagement and excellence in the financial industry.
Keynote Address by Mr. Costas Georgiades, Chairman of FXPRIMUS
The event also featured a keynote speech by Mr. Costas Georgiades, the Honorary Consul General of the Republic of Vanuatu in Cyprus and the Chairman of FXPRIMUS. Mr. Georgiades discussed the transformative role of fintech in upgrading Vanuatu’s Financial Dealer License (FDL) business and resolving banking challenges faced by financial dealers.
Fintech: A Catalyst for Growth and Stability
Mr. Georgiades highlighted how fintech can significantly enhance the operational capabilities of financial dealers through automated compliance, KYC processes, and innovative banking solutions like neobanks and cryptocurrencies. These technologies not only streamline operations but also mitigate risks associated with traditional banking systems.
Emulating Global Success Stories
Drawing parallels with global initiatives like Estonia’s e-residency program and Kenya’s M-Pesa, Mr. Georgiades proposed similar strategies for Vanuatu to boost its economic landscape and financial inclusivity.
Collaborative Efforts and Regulatory Innovations
He urged traditional banks to embrace partnerships with fintech firms to enhance their service offerings without compromising their crucial roles as liquidity providers. Regulatory sandboxes and liquidity management services were suggested as viable strategies to foster a conducive environment for financial innovation.
Vision for a Fintech-Powered Future
Concluding his address, Mr. Georgiades called on stakeholders to invest in fintech as a means to diversify the economy, create high-value jobs, and elevate Vanuatu on the global stage as a financial hub.
Recognition and Moving Forward
As the symposium concluded, Mr. Georgiades was presented with a token of appreciation for his invaluable insights and contributions to the symposium’s success by the Minister of Finance and the VFSC Commissioner.
FXPRIMUS continues to set benchmarks in the financial services industry, driven by its commitment to innovation, excellence, and community support. The company looks forward to further contributing to Vanuatu’s development as a leading financial center in the Pacific.
