PEXA, the digital property exchange platform, has been authorised by the Financial Conduct Authority (FCA) as an Authorised Payment Institution (API), a key milestone in its expansion across the UK property market.
The approval enables PEXA to act as a Third Party Managed Account (TPMA) provider for UK conveyancers and supports the upcoming launch of its Sale & Purchase product in the second half of 2025.
Combined with its existing remortgage platform, PEXA will soon be able to facilitate around 70% of property transactions in England and Wales.
Joe Pepper, UK CEO of PEXA, said: “We know that change in the property market has to be earned, not imposed.
“Any innovation introduced to the market has to be done the right way, able to scale, and built to last.
“Receiving FCA approval provides additional assurance over our considered approach, and of the strength of the controls and systems we have put in place.
“As we build towards the launch of our Sale & Purchase solution later this year, this news should give our partners further confidence we operate responsibly with the highest standards of security and compliance as we help support the industry’s modernisation and growth.
“We’re here for the long-term, with security, stability, and partnership front of mind.
“This significant milestone will enable us to build further momentum in the UK, developing and deploying the trusted digital infrastructure to support the evolution of property transactions.
“We look forward to working even more closely with the conveyancing and lending industry as we do so.”
The FCA authorisation follows PEXA’s development of PEXA Pay, the seventh net settlement payment scheme to clear through the Bank of England, designed specifically to facilitate secure and streamlined property transactions.
Since entering the UK market in 2022, PEXA has processed over £100m in remortgage transactions.
Its forthcoming Sale & Purchase product will extend its digital infrastructure to a broader segment of the property market, with further product expansions expected to follow.
