Breaking
Link copied Digital lender SoFi Invest acquires Hong Kong-based 8 Securities
Image by SoFi
Wed, 22 Apr 2020, 14:03 pm UTC
US-based digital lender SoFi Invest has acquired Hong Kong-based 8 Securities.
Following the acquisition of the mobile stock trading startup, it has been rebranded as SoFi Hong Kong, Tech in Asia reported. The move marks SoFi's first international foothold outside the U.S. The details of the deal were not disclosed.
SoFi Hong Kong will be the first and only brokerage service that delivers free stock trading of over 15,000 US and Hong Kong stocks as well as exchange-traded funds. It charges zero commissions, platform fees, and custodian fees.
“We underwent an extensive evaluation process when considering our first international market, and it was clear that Hong Kong, a financial capital of Asia, is ripe for innovation and a launching pad for further expansion in both product and geography,” said Anthony Noto, CEO at SoFi.
“Leveraging the learnings from the SoFi Invest platform in the US, SoFi can meet the needs of both experienced and novice investors alike in Hong Kong, all in support of our overall efforts to make headway on our mission to help people get their money right.”
8 Securities offered mobile-only investing, a robo-advisory service, social trading platform, and a zero-commission brokerage. In 2018, it raised a total of $70 million in funding with $25 million round from Japanese investment bank Nomura.
According to Mikaal Abdulla, the co-founder of 8 Securities, the deal is part of SoFi’s strategy to grow across Asia and Europe. SoFi started as a student loan financing and expanded aggressively over the years.
Earlier this month, SoFi agreed to buy financial service API and payment platform Galileo Financial Technologies for $1.2 billion worth of cash and stock deal.
“Together with Galileo, we will partner to build on our companies’ strengths to drive even greater financial technology innovation, making those products and services available to both current and future partners,” Noto said.
<Copyright © TokenPost. All Rights Reserved. >
-
PUBLISH (NEWS)
$0.000580 (-8.58%)
-
Bitcoin (BTC)
$26,168.00 (-0.40%)
-
Ethereum (ETH)
$1,588.86 (+0.13%)
-
Tether USDt (USDT)
$0.999566 (-0.05%)
-
BNB (BNB)
$211.63 (+0.88%)
-
XRP (XRP)
$0.500870 (-0.60%)
-
PUBLISH (NEWS)
$0.000580 (-8.58%)
Jul 15, 2021 (Thursday)
13:30 
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Popular news
