Egypt’s FRA Grants Fintechs Licences for Digital Stock Brokerage

Egypt’s Financial Regulatory Authority (FRA) has granted licences to three fintech startups—Telda, Beltone and Thndr—to operate as stock brokerage firms utilising comprehensive financial technology solutions.

This approval enables these companies to fully digitise their brokerage activities, including electronic verification, digital customer onboarding, electronic contract execution, and digital record-keeping. Telda and Beltone will collaborate with Vlens, a registered outsourcing provider, to facilitate these processes, while Thndr will partner with Valify Solutions for verification and onboarding, managing other digital operations internally.

The FRA’s decision aligns with its broader strategy to modernise and digitise non-banking financial services, following the enactment of Law No. 5 of 2022, which promotes the integration of fintech in the sector. By allowing brokerage firms to adopt these technologies, the FRA aims to simplify stock market participation, enabling investors to open accounts and trade entirely online without the need for physical branch visits or paper documentation.

This initiative is expected to reduce transaction costs and processing times, enhance accessibility for younger and financially underserved populations, and improve the speed and accuracy of financial transactions. Overall, it aims to bolster confidence in Egypt’s non-banking financial sector and support market efficiency.