Hong Kong-based online brokerage firm 8 Securities has purchased an online stock trading service company United World in Japan, in a bid to expand its operations beyond home market.
The securities firm, which was launched in 2012 to serve the Greater China region, is actively gearing up for more acquisitions throughout Asia including Australia, Singapore, Indonesia, India as well as in the Middle East.
After completion of the transaction, the acquirer will have more than 55,000 customers and $1bn in customer assets.
8 Securities founding member Mikaal Abdulla said, "Our service can be delivered in any market, in any language, on any device and is always locally relevant because the customer personalizes their own Trading Portal, not us."
According to an estimate, the market size of Asia is more than 80 million online investing accounts, with only 28% online penetration and increasing mobile use.
8 Securities provides access to over 15,000 stocks and funds listed on the US and Hong Kong exchanges, through a personalized Trading Portal, and also offers global market data & research and personalized trading tools on a single dashboard.