Sofi Invest Enters HK With Its Commission Free-Trading Through Acquisition of 8 Securities
by Fintech News Hong Kong April 22, 2020SoFi, the digital personal finance company, announced today an expansion into its first international market, with the introduction of SoFi Invest in Hong Kong.
SoFi is launching its international presence in the Hong Kong market based on its acquisition of the parent of online brokerage firm 8 Securities, based in Hong Kong. By localizing the SoFi brand in Hong Kong, SoFi will continue to serve existing 8 Securities customers, as well as expand to an ever-growing member base.
SoFi’s acquisition of 8 Securities remains subject to customary closing conditions. Following closing, the 8 Securities platform will be rebranded as SoFi and will be available to Hong Kong residents, in accordance with all applicable laws and regulations.
In Hong Kong, SoFi Invest is said to provide a comprehensive investing platform that offers access to brokerage, automated investing, and ETFs, all within the SoFi app ecosystem, complete with commission-free trading.
Anthony Noto
“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 of SoFi.
“Leveraging the learnings from the SoFi Invest platform in the U.S., 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. Because when it comes to achieving financial independence, investing is not optional – it is imperative.”
