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SoFi to acquire Hong Kong online brokerage firm

Apr. 21, 2020 10:17 AM ETSoFi Technologies, Inc. (SOFI) StockSOFIBy: Liz Kiesche, SA News Editor
  • Fintech SoFi (SOFI) expands into its first international market with the introduction of SoFi Invest in Hong Kong.
  • The expansion is based on SoFi's acquisition of the parent of online brokerage firm 8 Securities, based in Hong Kong.
  • Following closing, the 8 Securities platform will be rebranded as SoFi and will be available to Hong Kong residents.
  • The acquisition remains subject to customary closing conditions; terms of the deal weren't disclosed.
  • The company said that SoFi Invest will be the only comprehensive investing platform n Hong Kong that offers access to brokerage, automated investing, and ETFs, with commission-free trading.

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