Moomoo announces expansion into Malaysia
By Leandra Monteiro
Through inclusive finance, Malaysia investors will enjoy lifelong access to a holistic suite of self-help educational resources, free-for-all market data and a supportive global community to unlock more opportunities.
The Company’s wholly-owned Malaysian subsidiary has recently received the Approval-In-Principle for the Capital Markets Services License from the Securities Commission Malaysia, marking a giant leap in its Southeast Asia business expansion plans.
Robin Xu, Senior Partner and Senior Vice President, Futu Holdings Limited said, “We’re proud and excited to bring our one-stop platform, moomoo to Malaysia, the second SEA launch. We are thrilled to have been granted the AIP from the SC, as it is a validation of our mission and vision to make investing more convenient and accessible to investors worldwide. Following our success in Singapore, we are well-equipped to bring our international know-hows in transforming the digitised investment landscape in Malaysia. With its 32.7 million well-structured population, business-friendly environment, educated talent pool and high digital literacy levels, the country will serve as a catalyst for growth.”
With moomoo, retail investors are encouraged to also adopt a self-directed learning approach to securities and derivatives trading. This will be the first such financial literacy solution to roll out in Malaysia by a global technology company that believes in making investing right at the fingertips via digitalisation.
With its global presence and know-how in providing digitised investment services across major markets, the Company believes its digitised ecosystem that aggregates 20 million investors worldwide would promote financial inclusion in Malaysia and has a positive effect on driving the industry forward.
IBSi Daily News Analysis
February 23, 2024
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