TigerWit, a financial technology company headquartered in the United Kingdom, announced this Monday that it has secured a Financial Services license from Hong Kong’s Securities and Futures Commission (SFC).
The acquisition of the new license is in line with the company’s plans for expansion. TigerWit, which is a global foreign exchange (forex) broker based in the United Kingdom with roots in Asia, already has licenses in the UK with the Financial Conduct Authority (FCA) and in the Bahamas.
According to a statement released by the company today, receiving the license represents an important development for TigerWit, and the forex broker sees continued expansion for its services worldwide.
Commenting on the news, Tim Hughes, the CEO at TigerWit, said: “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.”
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“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.”
In 2020, the FX broker plans on expanding its product offering by adding more solutions. This will help the company with its mission of improving financial inclusion across several developing economies, the company said in the statement released today.
“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,” added Frederic Youssef, VP at TigerWit.
TigerWit’s Hong Kong entity
The SFC’s public register outlines that TigerWit received a license for leveraged forex trading on the 12th of December 2019 for TigerWit (Hong Kong) Limited (BOI171). The company’s principal address is Office 58 11/F Admiralty Centre Tower 2, 18 Harcourt Road, Admiralty, Hong Kong.