DriveWealth Teams with First Thai Partner, SBI Thai Online Securities Co., to Bring Easy Access to U.S. Stock Market, First Fractional Share Capability for Thai Residents
CHATHAM, N.J., Dec. 5, 2019 /PRNewswire/ -- DriveWealth, LLC, a U.S. based leader in global digital trading technology, announced today its first partnership in Thailand. The firm has teamed with Thailand's leading online securities trading provider, SBI Thai Online Securities Co., Ltd. (SBITO), to bring local investors direct access to the U.S. stock market and their first opportunity to participate in fractional share trading. The move follows the relaxation of rules by the Thai Ministry of Finance and Bank of Thailand, effective last month, enabling retail investors to invest directly in foreign securities.
SBITO is utilizing DriveWealth technology and brokerage execution services to bring individual investors in Thailand direct online access to trading in U.S. stocks, including in the form of fractional shares that DriveWealth has pioneered. FusionIQ, a leading investment research and technology provider, has also partnered with SBITO to design the white-label front-end digital platform. To facilitate the new trading opportunity for Thai investors, SBITO just launched a new service, SBITrade USA.
DriveWealth CEO Robert Cortright said: "SBITO has a tremendous product offering and client base, and we are thrilled to play a role in its efforts to increase opportunities for Thai investors to participate in the largest stock market in the world. The new SBITrade USA helps investors make informed decisions and easily buy or sell U.S. stocks in a way that mirrors how they might pursue an online purchase from a store."
SBITO CEO Yukiko Roberts said: "SBITrade USA was born out of a dynamic collaboration and strong partnership among three innovative companies: DriveWealth, FusionIQ and SBITO. We are now able to provide opportunities to Thai investors to purchase or sell whole or fractional shares in U.S. stocks with a very user-friendly online experience."
The partnership is the latest in a series of relationships DriveWealth has forged globally on six continents, including recent agreements to increase affordable access to the U.S. markets to investors of all sizes in the U.S., Nigeria, India and Brazil, as well as in Europe through a groundbreaking offering with Revolut. The firm offers partners such as SBITO unique investing technology, along with a customizable suite of application programming interfaces (APIs) that they can leverage to enhance their services. DriveWealth, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market. The firm is dedicated to eliminating barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.
About DriveWealth
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC. DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information, please visit DriveWealth.com.
About SBI Thailand Securities Co., Ltd.
SBI Thailand Securities Company Limited (Member number 33 of the Stock Exchange of Thailand) is a broker of online securities and derivatives trading. Self-service model that comes with technology, helping investors find investment opportunities. For more information, please visit SBI Thai Online.
About FusionIQ
FusionIQ is an innovative fintech company with deep roots in financial services investing, operations and technology, which developed a comprehensive digital investment platform powered by its proprietary research and security scoring/ranking system. For more information, please visit fusioniq.io.
SOURCE DriveWealth
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