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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Dec. 31, 2024
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Related party transactions as of December 31, 2024 and March 31, 2024, consisted of the following:
| December 31, 2024 |  | March 31, 2024
| Related party balances |  | Total category as per financial statements captions |  | Related party balances |  | Total category as per financial statements captions
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents | $ | 50 |  |  | $ | 577,940 |  |  | $ | 203 |  |  | $ | 545,084 |
Companies controlled by management | 50 |  |  |  |  | 203 |  |  |
Restricted cash | $ | 3,198 |  |  | $ | 742,153 |  |  | $ | — |  |  | $ | 462,637 |
Management | 1,924 |  |  |  |  | — |  |  |
Companies controlled by management | 1,234 |  |  |  |  | — |  |  |
Other | 40 |  |  |  |  | — |  |  |
Trading securities | $ | 1,128 |  |  | $ | 3,415,517 |  |  | $ | 1,326 |  |  | $ | 3,688,620 |
Companies controlled by management | 1,128 |  |  |  |  | 1,326 |  |  |
Margin lending, brokerage and other receivables, net | $ | 22,391 |  |  | $ | 2,037,673 |  |  | $ | 22,039 |  |  | $ | 1,660,275 |
Management | 9,508 |  |  |  |  | 8,849 |  |  |
Companies controlled by management | 12,883 |  |  |  |  | 13,190 |  |  |
Loans issued | $ | 139,514 |  |  | $ | 1,454,259 |  |  | $ | 147,440 |  |  | $ | 1,381,715 |
Management | 335 |  |  |  |  | 117 |  |  |
Companies controlled by management | 139,179 |  |  |  |  | 147,323 |  |  |
Other assets, net | $ | 16,294 |  |  | $ | 171,040 |  |  | $ | 5,257 |  |  | $ | 102,414 |
Companies controlled by management | 16,294 |  |  |  |  | 5,257 |  |  |
LIABILITIES |  |  |  |  |  |  |
Customer liabilities | $ | 51,017 |  |  | $ | 3,783,291 |  |  | $ | 44,127 |  |  | $ | 2,273,830 |
Management | 7,566 |  |  |  |  | 12,604 |  |  |
Companies controlled by management | 42,330 |  |  |  |  | 31,253 |  |  |
Other | 1,121 |  |  |  |  | 270 |  |  |
Other liabilities | $ | 157 |  |  | $ | 132,007 |  |  | $ | 9,854 |  |  | $ | 81,560 |
Management | 104 |  |  |  |  | 7,947 |  |  |
Companies controlled by management | 52 |  |  |  |  | 1,907 |  |  |
Other | 1 |  |  |  |  | — |  |  |
| Three Months Ended December 31, 2024 |  | Three Months Ended December 31, 2023
| Related party amounts |  | Total category as per financial statements captions |  | Related party amounts |  | Total category as per financial statements captions
Revenue: |  |  |  |  |  |  |
Fee and commission income | $ | 556 |  |  | $ | 143,436 |  |  | $ | 30,112 |  |  | $ | 120,159 |
Management | 197 |  |  |  |  | 226 |  |  |
Companies controlled by management | 357 |  |  |  |  | 29,878 |  |  |
Other | 2 |  |  |  |  | 8 |  |  |
Interest income | $ | 380 |  |  | $ | 224,688 |  |  | $ | 7,566 |  |  | $ | 226,445 |
Management | 224 |  |  |  |  | 208 |  |  |
Companies controlled by management | 156 |  |  |  |  | 7,358 |  |  |
Expense: |  |  |  |  |  |  |
General and administrative expense | $ | 7,892 |  |  | $ | 73,437 |  |  | $ | 1,502 |  |  | $ | 32,106 |
Management | 34 |  |  |  |  | 226 |  |  |
Companies controlled by management | 7,858 |  |  |  |  | 1,041 |  |  |
Other | — |  |  |  |  | 235 |  |  |
| Nine Months Ended December 31, 2024 |  | Nine Months Ended December 31, 2023
| Related party amounts |  | Total category as per financial statements captions |  | Related party amounts |  | Total category as per financial statements captions
Revenue: |  |  |  |  |  |  |
Fee and commission income | 2,259 |  |  | 379,976 |  |  | 66,029 |  |  | 330,565 |
Management | 706 |  |  |  |  | 691 |  |  |
Companies controlled by management | 1,545 |  |  |  |  | 65,322 |  |  |
Other | 8 |  |  |  |  | 16 |  |  |
Interest income | 1,023 |  |  | 661,016 |  |  | 22,650 |  |  | 588,857 |
Management | 643 |  |  |  |  | 512 |  |  |
Companies controlled by management | 380 |  |  |  |  | 22,137 |  |  |
Expense: |  |  |  |  |  |  |
General and administrative expense | 16,864 |  |  | 171,782 |  |  | 9,063 |  |  | 86,211 |
Management | 311 |  |  |  |  | 397 |  |  |
Companies controlled by management | 16,553 |  |  |  |  | 8,346 |  |  |
Other | — |  |  |  |  | 320 |  |  |
During the three and nine months ended December 31, 2023, the Group engaged in various related party transactions, a substantial amount of which were conducted with FST Belize, a Belize company which is wholly owned by the Company’s chief executive officer, chairman and majority shareholder, Mr. Timur Turlov, and is not part of the Group. During such periods, FST Belize had its own brokerage customers, which included individuals and a market-maker institution and conducted business with the Group through a client omnibus account at Freedom EU. The Group terminated these arrangements with FST Belize before the end of fiscal 2024, leading to a decrease in related party transactions during three and nine months ended December 31, 2024 as compared to the corresponding periods in 2023. As of March 31, 2024, the Group's margin lending receivables from Fresh Start Trading Ltd, amounted to $12,890. Fresh Start Trading Ltd is a Cyprus-based company that was controlled by an individual who served on Freedom EU’s management until November 5, 2024. From November 5, 2024, Fresh Start Trading Ltd. is no longer controlled by a Company's related party. Fresh Start Trading Ltd was mainly involved in foreign currency trading activity. Margin lending receivables from Fresh Start Trading Ltd were mainly denominated in Euros, and they were fully collateralized by cash denominated in U.S. dollars. During the three and nine months ended December 31, 2024, the Group incurred general and administrative expenses relating to the Kazakhstan Chess Federation in the amount of $3,401 and $9,753, respectively. Kazakhstan Chess Federation is a Kazakhstan-based company in which Mr. Timur Turlov holds a management position. The Group continues to support the development of chess as a sport in Kazakhstan. During the three and nine months ended December 31, 2024, the Group has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, training camps and other events. As of December 31, 2024 and March 31, 2024, 18% and 7% respectively, of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securites LTD held by Freedom Bank KZ. Turlov Family Office Securities LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. As of March 31, 2024, 24% of the Group's total related party customer liabilities were deposits of Fresh Start Trading Ltd held by Freedom EU related to brokerage services provided by our subsidiary Freedom EU to Fresh Start Trading Ltd. As of December 31, 2024 and March 31, 2024, 58% of the Group's total related party other assets were prepayment on the potential acquisition of A-Telecom as part of our strategy to enter the telecommunications market in Kazakhstan and build a digital fintech ecosystem. As of December 31, 2024, and March 31, 2024, the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov.

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