Ones to Watch

Ones to Watch: Binary Europe Ltd

Founded in 1999 by Jean-Yves Sireau, Binary has revolutionised the way binary options were traditionally traded by big banks and hedge funds by creating the simplest of all derivatives contracts - the fixed-odds bet.

What is it?

Binary.com is the pioneer in online binary options trading. The company launched in 2000, offering binary options trading on financial indices, and in 2016 it expanded into Spot FX and CFD trading with the adoption of the MetaTrader 5 platform.

Our Maltese subsidiary, Binary (Europe) Ltd is one of the very first online gaming companies in the country. Unlike most companies that offer sports betting or online casinos, our goal from the start was to focus on financial betting. Unlike financial spread betting however, the fixed-odds nature of binary options means that a customer can never lose more than the original stake.

 

How is it funded?

We were initially funded with a USD 2 million investment from Jim Mellon through his Regent Pacific Group, a Hong Kong-based fund management company. The company has been profitable for years, and it is still growing.

 

 

Jean -Yves Sireau, founder of Binary Ltd


What are your plans for the future?

We’re designing new products that we believe will appeal to our existing client base. All our games are based on financial trading, and require significant resources to research, develop, test, and market.

We’re also looking to expand further by opening offices in strategic regions with immense potential. However, we have to bear in mind that gambling in certain countries is prohibited unless you are licensed accordingly. For instance, Binary (Europe) Ltd currently holds three gambling licences, issued by the Malta Gaming Authority (MGA), the United Kingdom Gambling Commission (UKGC), and the Revenue Commissioners in Ireland respectively.

 

Why Malta? 

When Binary started, there weren’t many jurisdictions that were offering a regulatory framework for what we had in mind. Malta was ideal for a lot of reasons. During its infancy, Malta was already implementing legislation and regulations that we felt were robust and adequate to carry out our vision. Malta was also in the process of entering the European Union which meant that we would be able to offer our services across most of Europe, thanks to the EU passporting system.

 


 

About Ones to Watch

Discover the most innovative companies with the newest ideas born in Malta. Companies on MaltaProfile’s “Ones to Watch” list come from all sectors and in all sizes; from manufacturing to technology, from shipping to transport; from start-ups to established businesses.

If you have an interesting idea or a great story to tell, be sure to reach out MaltaProfile on info@countryprofiler.com

 

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