Fintech startup TigerWit obtains Financial Services licence from Hong Kong’s SFC
Mon, 13 Jan 2020, 10:50 am UTC
TigerWit, a UK-headquartered fintech firm, has obtained a Financial Services licence from Hong Kong’s Securities and Futures Commission (SFC).
Founded in 2015, TigerWit aims to create a reliable, trustworthy and exciting trading environment that benefits traders, brokers and regulators. It has developed a blockchain-powered transaction booking system – TigerWit’s distributed trading ledger – delivering greater security and process efficiency, transparency and more trust.
In addition to the SFC, the company is authorised and regulated by the UK Financial Conduct Authority and the Securities Commission of The Bahamas (SCB).
In its press release, TigerWit said that receiving this licence represents is an important development for the company as it sees continued expansion and growth for its trading services worldwide.
“By gaining this licence we are another step further on our journey to offering our innovative trading solutions globally. Being regulated in the right jurisdictions allows us to expand our operations, whilst ensuring that our clients are afforded the relevant protections,” Tim Hughes, CEO at TigerWit said.
TigerWit plans to add more solutions to its product offering this year as part of its efforts to improve financial inclusion across several developing economies, in addition to increasing market share within developed markets.
“Obtaining the SFC license in Hong Kong will allow us to penetrate the vibrant ASEAN markets, and serve our partners through one of the most reputable financial regulations,” Frederic Youssef, VP at TigerWit said.
In Sept. 2018, TigerWit became the official foreign exchange trading partner of Liverpool FC and launched its blockchain-based trading app.
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