PEXA Gains UK Regulatory Green Light for Expansion of Digital Property Services

April 30, 2025 10:45 AM AEST | By Team Kalkine Media

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PEXA Gains UK Regulatory Green Light for Expansion of Digital Property Services — Image source: shutterstock

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Highlights

FCA approval marks key UK expansion milestone

PEXA to launch sale and purchase product this year

Enables third-party managed accounts for UK conveyancers

PEXA Group Limited (ASX:PXA) has secured a pivotal regulatory approval from the UK’s Financial Conduct Authority (FCA), paving the way for the digital property settlement company to roll out its sale and purchase product in the UK market.

This approval represents a significant advancement in PEXA’s international growth strategy. Having entered the UK market in 2023—its first major move beyond Australia—the company now takes a crucial step toward operational expansion in the region. The FCA's authorisation allows PEXA’s UK arm, Digital Completion UK, to operate as an authorised payment institution (API), which is a mandatory requirement for launching the “source account” functionality within its upcoming product suite.

With this regulatory milestone, PEXA is set to introduce its sale and purchase product in the second half of the 2025 calendar year. This launch will support UK property professionals, particularly conveyancers, by offering a streamlined, digital settlement process similar to the model PEXA has successfully implemented in Australia.

The API status not only empowers the company to handle financial transactions within the property exchange ecosystem, but also allows it to act as a third-party managed account provider. This is a significant development for UK conveyancers involved in real estate transactions, as it introduces a secure and efficient digital alternative for managing funds related to property sales.

Russell Cohen, chief executive and managing director of PEXA, commented on the development, stating that the FCA’s approval is a “key component” of the company’s UK strategy. He emphasized the importance of this milestone in broadening PEXA’s product capabilities and fostering deeper ties with financial institutions and legal professionals across the UK property landscape.

The move aligns with PEXA’s broader vision to enhance digital transformation in property transactions globally. By introducing an end-to-end digital solution for sale and purchase processes in the UK, PEXA aims to deliver improved speed, transparency, and security in real estate settlements.

As the company prepares for the launch later this year, the focus remains on securing wider industry engagement and building confidence in the new platform among stakeholders in the UK’s real estate and legal sectors.

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