Eddid Financial Expands with Capital Markets License Approval

Eddid Financial Receives In-Principle Approval for Singapore License

In an exciting development for Eddid Financial, the Group has announced that its wholly-owned subsidiary, Eddid Financial Singapore Pte. Ltd., has obtained in-principle approval for a Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS). This significant milestone marks the Group's strategic move into the local financial market, allowing it to offer a diverse range of services including securities trading, product financing, and custodial services.

Expanding into Southeast Asia

The approval of the CMS License paves the way for Eddid Financial to establish a robust business ecosystem in Singapore. The Group plans to set up local offices and assemble dedicated operational and sales teams. Among future initiatives is the development of a bespoke trading application catering to Singapore's market. This platform aims to provide seamless trading solutions for local stocks, U.S. stocks, and various global futures. Moreover, the Group intends to broaden its offerings to encompass virtual assets, corporate financing, and fund management as part of its vision to create a comprehensive one-stop solution in Southeast Asia.

Leveraging Global Expertise

With a wealth of experience in the global financial sector, Eddid Financial aims to utilize effective business models from its operations in Hong Kong and the U.S. to enhance its offerings in Singapore. The Group has been actively exploring partnerships across Southeast Asia, establishing vital connections in markets like Vietnam and Indonesia. Singapore, recognized as a leading financial center in the region, is set to become the Group's operational base, providing a solid foundation for its continued expansion.

CEO Insights on Strategic Growth

Dr. Jerry Tse, CEO of Eddid Financial, expressed his enthusiasm about the Group’s new ventures, stating, "Singapore's growing significance in both Southeast Asian and international finance makes securing this license essential for our global strategy. Our ongoing partnerships across Southeast Asia, including the provision of initial public offering (IPO) services to various companies, are strengthening our network in the region. Our official entrance into the Singapore market will further unify our diverse operations across Southeast Asia, fostering synergies and enhancing regional growth opportunities for the Group."

About Eddid Financial

Eddid Financial, headquartered in Hong Kong, is a multifaceted financial enterprise that focuses on integrating advanced fintech and artificial intelligence technologies. The Group's services span from retail to institutional clients, encompassing sectors such as fintech, internet finance, wealth management, asset management, investment banking, and virtual assets. Eddid Financial is dedicated to delivering high-quality one-stop financial solutions to its clientele.

Moreover, the Group holds a variety of licenses across critical financial markets. They possess licenses regulated by the Hong Kong Securities and Futures Commission (SFC) across categories such as types 1 through 9, alongside participant statuses with the SEHK and HKCC. Additionally, Eddid Financial owns a U.S. broker-dealer subsidiary, Eddid Securities USA Inc., which maintains essential memberships in several regulatory bodies, including the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), and others, ensuring compliance with stringent U.S. regulations.

Frequently Asked Questions

What is the significance of the CMS License for Eddid Financial?

The CMS License allows Eddid Financial to offer various services in Singapore, enhancing its business operations and market reach.

How does Eddid Financial plan to utilize its Singapore office?

The Singapore office will serve as a hub for expanding the Group's operations in Southeast Asia, including establishing local teams and services.

Who is the CEO of Eddid Financial?

Dr. Jerry Tse is the CEO of Eddid Financial, driving the Group's strategic initiatives and partnerships in the region.

What markets does Eddid Financial target in Southeast Asia?

Eddid Financial is focusing on establishing a presence in markets like Singapore, Indonesia, and Vietnam, among others.

What services will Eddid Financial offer in Singapore?

The Group plans to offer trading services for local and U.S. stocks, futures, alongside potential expansions into corporate financing and virtual assets.

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