Moomoo Expands Into Malaysia Following Success In Singapore

Rhea-AI Summary

Futu Holdings Limited expands into Malaysia with its super investment platform, moomoo, offering inclusive finance and educational resources. The company has received Approval-In-Principle for the Capital Markets Services License from the Securities Commission Malaysia.

Positive

• Futu Holdings Limited expands into Malaysia with moomoo, providing a comprehensive suite of tech-driven offerings to promote financial inclusion.
• The company's Malaysian subsidiary has received Approval-In-Principle for the Capital Markets Services License, reinforcing its mission to make investing easy and accessible.
• The digitised investment landscape in Malaysia is expected to grow with the introduction of moomoo's cutting-edge super investment platform.

Negative

• None.

KUALA LUMPUR, Malaysia, May 16, 2023 /PRNewswire/ -- Futu Holdings Limited (the "Company", Nasdaq: FUTU) today announces its expansion into Malaysia with its super investment platform, moomoo, introducing a comprehensive suite of tech-driven offerings to promote financial inclusion. Through inclusive finance, Malaysia investors will enjoy lifelong access to a holistic suite of self-help educational resources, free-for-all market data and a supportive global community to unlock more opportunities.

Says Robin Xu, Senior Partner and Senior Vice President, Futu Holdings Limited: "We're proud and excited to bring our one-stop platform, moomoo to Malaysia, the second SEA launch. Our world-class research and development capabilities and long-standing business success in serving over 20 million users worldwide allow us to provide better tech-driven solutions to the market, enabling everyone to be equipped with the necessary access, tools and knowledge to make informed decisions along the investment journey."

A New Era of Investment With Financial Technology

The Company's wholly-owned Malaysian subsidiary has recently received the Approval-In-Principle ("AIP") for the Capital Markets Services License ("CMSL") from the Securities Commission Malaysia ("SC"), marking a giant leap in its Southeast Asia business expansion plans. Attaining the AIP from the SC further reinforces the Company's overall mission and vision to make investing easy and accessible to both investors and stakeholders.

He adds: "We are thrilled to have been granted the AIP from the SC, as it is a validation of our mission and vision to make investing more convenient and accessible to investors worldwide. Following our success in Singapore and other APAC markets, we are well-equipped to bring our international know-hows in transforming the digitised investment landscape in Malaysia. With its 32.7 million^[1] well-structured population, business-friendly environment, educated talent pool and high digital literacy levels, the country will serve as a catalyst for growth. The Company values Malaysia as a strategic location to roll out its cutting-edge super investment platform."

Empowering Malaysians To Unlock More Opportunities

Education is the cornerstone for lifelong learning and personal development. Designed to empower retail investors of all levels to uncover opportunities that are exclusive to the investment platform, moomoo is packed with highly intuitive tools, features and functions. With moomoo, retail investors are encouraged to also adopt a self-directed learning approach to securities and derivatives trading. This will be the first such financial literacy solution to roll out in Malaysia by a global technology company that believes in making investing right at the fingertips via digitalisation.

Fostering A Synergistic Ecosystem Upon The Nation's Digitalisation Trends

With its global presence and know-how in providing digitised investment services across major markets, the Company sees its unique digitised ecosystem that aggregates 20 million investors worldwide would promote financial inclusion in Malaysia, and has a positive effect on driving the industry forward.  By fostering a synergistic ecosystem with thousands of public companies, fund houses, media, and market practitioners, the moo community would be a winning strategy for the new market and a pathway to business success.

Click here to know more about the most powerful investment platform and application, and the start of a new investing era.

About Futu Holdings Limited

Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced fintech company upgrading the investing experience by offering fully digitalised financial services in multiple markets. Futu was listed on Nasdaq on March 8, 2019. Futu offers market data, financial news, interactive social features, and investor education on its proprietary one-stop digital platforms, Futubull, and moomoo.

Its subsidiaries provide clients with investing services, including trading and clearing services for the United States, Hong Kong SAR, China Connect, Singapore, and Australia stocks, margin financing, and securities lending, and wealth management. By creating an ecosystem centered around its users, Futu provides connectivity to users, investors, analysts, media, companies, and institutions. Futu also provides Employee Stock Ownership Plan (ESOP) solutions, initial public offering (IPO) distribution, and investor relations (IR) and public relations (PR) services through its institutional and corporate services brand, becoming the go-to partner of many well-known companies. Futu Trustee provides one-stop wealth management solutions for corporate clients and high-net-worth individuals and families, and revolutionizes service delivery for ESOP Trust Administration, Family Trust, and Family Office through technology.

Futu aims to become an influential financial services platform globally, by adhering to the missions of prioritizing users and user experience, driving high innovation across its product upgrade, and enriching products and services offering that meet the evolving needs of investors, companies, and the industry.

For more information, please visit: http://futuholdings.com

Source:

^[1]. Ministry of Economy, Department of Statistics, Malaysia, accessed 16 May 2023, https://www.dosm.gov.my/portal-main/release-content/current-population-estimates-malaysia-2022#:~:text=The%20total%20population%20of%20Malaysia,growth%20rate%20of%200.2%20percent 

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SOURCE Futu Holdings Limited

FAQ

What is Futu Holdings Limited's expansion plan in Malaysia?

Futu Holdings Limited is expanding into Malaysia with its super investment platform, moomoo, offering inclusive finance and educational resources.

What license has Futu Holdings Limited received in Malaysia?

Futu Holdings Limited has received Approval-In-Principle for the Capital Markets Services License from the Securities Commission Malaysia.

What is the mission of Futu Holdings Limited?

Futu Holdings Limited aims to make investing easy and accessible to investors worldwide.

What is moomoo?

moomoo is a comprehensive suite of tech-driven offerings that provides retail investors with tools, features, and functions for self-directed learning and investing.

What is the expected impact of moomoo's introduction in Malaysia?

moomoo's introduction is expected to promote financial inclusion and drive the growth of the digitised investment landscape in Malaysia.

How many users does Futu Holdings Limited serve worldwide?

Futu Holdings Limited serves over 20 million users worldwide.