The National Agency for Advanced Projects (NAPP) in Uzbekistan has granted registration to Analytics Services as a broker.
With this registration, Analytics Services has secured a license to operate as an investment intermediary, signaling its commitment to facilitating transactions in the financial realm. Currently, the register of professional participants overseen by NAPP boasts a total of 74 companies, with Analytics Services joining this esteemed group.
Established in November 2023, Analytics Services commenced operations with an authorized capital of UZS 1 bn ($78,778), with founder Akmal Jalilov holding a majority stake of 90%.
Within the regulatory sandbox framework, NAPP has granted permission for foreign investment intermediaries to engage in Uzbekistan's capital market activities. These intermediaries hail from various countries including the UK, USA, South Korea, and Japan.
Specifically, foreign investment intermediaries are authorized to establish securities accounts as well as soum and foreign currency accounts with the Central Bank of Uzbekistan.
In line with its growth objectives, Analytics Services aims to create over 100 new jobs within the initial three years of operation, with aspirations to expand its workforce to encompass up to 1,500 employees over the subsequent five years.
Earlier Daryo reported that the NAPP has authorized JAPAN DXT to function as a cryptocurrency depository.
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