Social-trading technology provider Ayondo has entered into a White Label agreement with Huanying International as the SGX-listed investment firm continues pursuing its Asian B2B strategy.
As per the white label stipulations, Ayondo will provide Huanying’s client base with fully managed white label services to trade equities, indices, forex, and commodities. Huanying will leverage the company’s contract-for-difference (CFD) TradeHub platform plus Ayondo’s execution and risk management services.
In 2016, Ayondo acquired TradeHero, a developer of a popular investor- education application, which allowed the company to expand its offerings and operations in Asia. Through the TradeHero brand, Ayondo also targets Chinese traders with a simplified casual trading product.
Also in 2017, Ayondo Group activated its portfolio management license issued by the German regulator (BaFin) making the social platform the first fintech company to offer its services under such a license.
NEXT BLOCK SOFIA 2.0 + Fabulous Blockchain After-PartyGo to article >>
Ayondo has inked more than 25 B2B partnership deals in Asia, ranging from white label partners to introducing brokers. In Singapore, the company has teamed up with local brokerage firm KGI Fraser Securities to launch a contracts for differences (CFDs) platform, also based on Ayondo’s existing TradeHub system.
Founded in 2008, Ayondo offers a broad spectrum of services that cover both retail and institutional sectors. The group claims to have 210,000 users from 195 countries on its social trading platform.
Last month, Ayondo’s UK arm reported its financial statements for its 2017 fiscal year. Overall the firm saw a continuation of growth, although it was at a slower rate than previous years.
Commenting on the news, Robert Lempka, chief executive officer and co-founder of Ayondo, said: “As part of Ayondo’s China growth strategy, we are very excited at the opportunity to work with Huanying to provide a wide range of products to their clients. Huanying is a great partner for us to extend Ayondo’s footprint in this important growth region of Asia.”