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// Workers AI · dad joke modeWhat did the MultiBank say to the customer? "We've got accounts to settle.

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From Wikipedia, the free encyclopedia

MultiBank
TypePrivate
IndustryFinancial services
Founded2005; 21 years ago (2005) in California, United States
FounderNaser Taher
Headquarters
Dubai
,
United Arab Emirates
Area served
Worldwide
Key people
Naser Taher (Chairman and founder)
Products
RevenueIncrease US$361.8 million (2024)
Websitemultibankgroup.com

MultiBank is a private financial services company headquartered in Dubai, United Arab Emirates. Founded in 2005 by Naser Taher in California, United States, the company provides retail and institutional trading in contracts for difference (CFDs), foreign exchange, and cryptocurrency.

History

[edit]

MultiBank was founded in 2005 by Naser Taher in California, United States, initially operating as an online forex and derivatives broker.[1] The company expanded internationally over the following decade and obtained regulatory licences in multiple jurisdictions in Europe, Asia-Pacific, and the Middle East.[2][3] The group relocated its headquarters from Hong Kong to Dubai in 2022.[4][5]

In 2024, company's cryptocurrency spot trading platform, mb.io secured a Virtual Asset Service Provider (VASP) licence from the Virtual Assets Regulatory Authority (VARA) in Dubai, enabling the group to offer regulated digital asset services in the United Arab Emirates.[6][7][8]

On 3 April 2025 the company recorded a single-day trading volume of $55.85 billion.[9][10]

In July 2025, MultiBank launched the MBG token through a Token Generation Event (TGE) on 22 July 2025.[11][12]

In October 2025, MultiBank announced a joint venture with former UFC lightweight champion Khabib Nurmagomedov.[13][14][15] In the same month the company hired Dana Massey as its Chief Product and Growth Officer.[16]

In 2025, MultiBank won a US$25 million legal dispute against Von Der Heydt Invest S.A. (VDH), part of the Von Der Heydt Group in a Caribbean court.[17][18]

In May 2026, mb.io announced a partnership with Kings Orbis, EON3, and Mavryk to tokenize gold production from Ghana.[19]

Regulation

[edit]

MultiBank Group operates internationally through a number of regulated subsidiaries. Its Australian entity, MEX Australia Pty Ltd, holds an Australian Financial Services Licence (AFSL 416279) issued by the Australian Securities and Investments Commission (ASIC).[20] Its European entity, MEX Europe Ltd, holds a Cyprus Investment Firm (CIF) licence (430/23) issued by the Cyprus Securities and Exchange Commission (CySEC) in 2023.[21] In 2020, the group obtained a licence from the Dubai Financial Services Authority (DFSA) and opened an office in Dubai.[22]

DFSA has issued a public alert stating that only MEX Australia Pty Ltd (DIFC Branch) is authorised by the DFSA, and warning against false claims that other MultiBank-branded entities are DFSA-regulated.[23]

Controversies

[edit]

In 2024, the Dubai Financial Services Authority (DFSA) fined Vedas International Marketing Management AED 367,000 (approximately $100,000) for conducting unauthorised financial promotions related to Multibank services.[24][25][26]

References

[edit]
  1. ↑ Pupic, Tamara (18 February 2025). "How Naser Taher Transformed MultiBank Group into a Global Financial Powerhouse". Entrepreneur Middle East. Retrieved 22 July 2026.
  2. ↑ "MultiBank Sets Up in UAE with MEX Digital's VARA License for Crypto Assets". Financial and Business News | Finance Magnates. 11 October 2024. Retrieved 22 July 2026.
  3. ↑ "MultiBank Group's Audited 2022 Financial Statement". Financial and Business News | Finance Magnates. 6 October 2023. Retrieved 22 July 2026.
  4. ↑ Alkhalifa, Mohamed Rashed. "MultiBank Group Moves Headquarters To Dubai". Forbes ME. Retrieved 22 July 2026.
  5. ↑ "MultiBank Group Announces Relocation of its Headquarters from Hong Kong to Dubai". Financial and Business News | Finance Magnates. 21 November 2022. Retrieved 22 July 2026.
  6. ↑ "MultiBank aims to expand global footprint from UAE base". Khaleej Times. Retrieved 22 July 2026.
  7. ↑ Nair, Manoj (12 May 2025). "Dubai property: Will 'real estate tokenization' create an investment wave of its own?". Gulf News. Retrieved 22 July 2026.
  8. ↑ "VARA License Paves Way for MultiBank and MAG's $3B Real Estate Tokenization". Financial and Business News | Finance Magnates. 2 May 2025. Retrieved 22 July 2026.
  9. ↑ Segal, Gerald (9 April 2025). "MultiBank sees record $55.85 billion of client trading volume on April 3". FX News Group. Retrieved 22 July 2026.
  10. ↑ "MultiBank Group Plans Abu Dhabi Office to Boost Middle East Presence". Financial and Business News | Finance Magnates. 19 August 2025. Retrieved 22 July 2026.
  11. ↑ "MultiBank Group Reports $209M H1 Revenue Amid Token Launch". Financial and Business News | Finance Magnates. 11 August 2025. Retrieved 22 July 2026.
  12. ↑ "Why MultiBank Group Is Bringing Its $MBG Token to Bitpanda". Financial and Business News | Finance Magnates. 18 May 2026. Retrieved 22 July 2026.
  13. ↑ Varghese, Justin (27 October 2025). "MultiBank launches multi-billion-dollar regulated tokenised sports venture with Khabib Nurmagomedov". Gulf News. Retrieved 22 July 2026.
  14. ↑ Sherdog.com. "Khabib Signs Multi-Billion Dollar Partnership to Open 30 Global Gyms". Sherdog. Retrieved 22 July 2026.
  15. ↑ "MultiBank Group, Khabib Nurmagomedov Launch sports-tech venture amid global tokenisation boom". Khaleej Times. Retrieved 22 July 2026.
  16. ↑ "MultiBank Taps Capital.com's Former Exec Dana Massey as Chief Product and Growth Officer". Financial and Business News | Finance Magnates. 17 October 2025. Retrieved 22 July 2026.
  17. ↑ "MultiBank wins $25M legal battle against Von Der Heydt in Caribbean court - FinanceFeeds". 14 January 2025. Retrieved 28 July 2026.
  18. ↑ "Eastern Caribbean Supreme Court". www.eccourts.org. Retrieved 28 July 2026.
  19. ↑ Konnov, Yuri (29 May 2026). "mb.io Tokenizes Ghana Gold in RWA Deal With Mavryk | Tokenizer.Estate". Tokenizer.Estate News. Retrieved 22 July 2026.
  20. ↑ "Mex Australia Pty ltd, AFSL ID 416279 / AFS Licensees Search". search-afsl.com. Retrieved 28 July 2026.
  21. ↑ "Cyprus Securities and Exchange Commission | MEX Europe Ltd". www.cysec.gov.cy. Archived from the original on 15 December 2025. Retrieved 28 July 2026.
  22. ↑ "MultiBank Group Gains DFSA License, Opens Office in Dubai". Financial and Business News | Finance Magnates. 14 October 2020. Retrieved 28 July 2026.
  23. ↑ "Introducing Brokers make false claims that Multibank entities are DFSA Authorised". DFSA | THE INDEPENDENT REGULATOR OF FINANCIAL SERVICES. Retrieved 28 July 2026.
  24. ↑ "DFSA | The DFSA fines Vedas International Marketing Management for Unauthorised and Misleading Financial Promotions". DFSA. Retrieved 22 July 2026.
  25. ↑ "DFSA fines Dubai firm $100,000 over "misleading" financial promotions - Finance Middle East". 5 November 2024. Retrieved 22 July 2026.
  26. ↑ "Dubai watchdog DFSA slaps $100,000 fine on marketing firm for misleading financial promotions in DIFC - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". 5 November 2024. Retrieved 22 July 2026.
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