Hong Kong’s Securities and Futures Commission has granted mobile and online trading platform TigerWit a financial services licence.
The new accreditation is a significant step for the Nassau-headquartered FinTech startup’s ambition to roll out its services across Asia.
“Securing a licence from the Securities and Futures Commission of Hong Kong is a significant milestone for TigerWit and represents another crucial part of our roadmap achieved,” said Tim Hughes, CEO at TigerWit. “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.”
The news comes almost two years after TigerWit raised a $5m round.
Travelex is hardly alone in looking to expand its services across Asia. FinTech startup FintechOS, WealthTech company Finantix, car marketplace Carsome and the processing platform developer Global Processing Services are just some of the companies in the sector that have announced similar plans.