Lion Group Holding Announced the Launch of Multi-Currency Account Services Powered by AI

Rhea-AI Summary

Lion Group Holding announced the launch of multi-currency account services powered by AI, offering a range of currencies for trading and settlement. The new services aim to enhance the value of core products, provide cost savings, and improve efficiency for investors. The CEO highlights the importance of AI in driving the company's growth and differentiation in the financial technology sector.

Positive

• The multi-currency trading account services will offer pricing and settlement in various currencies, including offshore Renminbi and US dollars.
• The new services aim to mitigate the impact of exchange rate fluctuations on net returns, particularly in the derivatives market, enhancing liquidity and flexibility for clients.
• The integration of AI technology into core business products and services is seen as a strategic move to capitalize on industry opportunities and drive incremental profit opportunities.
• The CEO emphasizes Lion's commitment to building a strong business ecosystem, improving customer experiences, and creating value for shareholders through diversified development strategies.

Negative

• None.

HONG KONG, April 22, 2024 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), the operator of an all-in-one trading platform that offers a wide spectrum of products and services, today announced the official launch of multi-currency trading account services which will be powered by AI technology. The new service offerings will be focused on enhancing the value of the core business products through various trading system iterations and upgrades. 

While trades are settled in Hong Kong dollars traditionally, Lion's newly launched multi-currency trading account services will support pricing and settlement in a range of currencies, including offshore Renminbi and US dollars. The system will adjust in real-time to accommodate different currency accounts, providing a more professional and intelligent investment tool and trading service experience for all types of users worldwide.

The core advantages of multi-currency trading account services include  enabling significant cost savings and higher efficiency for investors. For example, in the over-the-counter (OTC) stock options sector of the derivatives market, foreign investment in China A-shares is often susceptible to the impact of exchange rate fluctuations, which can significantly affect net returns. Using offshore Renminbi settlement in the new trading services can alleviate currency fluctuations, greatly enhancing the liquidity and flexibility of client financial strategies.

"Finance, technology, and digitization are the three main catalysts driving Lion's advancement in the financial technology sector. Against the backdrop of the ongoing AI wave sweeping across the globe, we believe in actively seizing the industry opportunities brought by AI and infusing AI dynamics into the Company's core business products and services," said Lion CEO Mr. Chunning (Wilson) Wang. "The launch of multi-currency trading account services like this will significantly enhance the differentiation competitiveness of corresponding products and bring more incremental profit opportunities. Meanwhile, benefiting from a diversified development strategy, Lion will continue to build a robust and imaginative business ecosystem, provide customers with a better product experience and service, and create meaningful value for shareholders."

About Lion Group Holding Ltd.

Lion Group Holding Ltd. (Nasdaq: LGHL) operates an all-in-one, state-of-the-art trading platform that offers a wide spectrum of products and services, including (i) total return service (TRS) trading, (ii) contract-for-difference (CFD) trading, (iii) Hong Kong-based over-the-counter (OTC) stock options trading, and (iv) futures and securities brokerage. In addition, Lion owns a professional and experienced SPAC sponsorship team to become a leader in the SPAC arena, helping guide private companies through their listing journey. Additional information may be found at http://ir.liongrouphl.com.

Forward-Looking Statements

This press release contains, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Lion's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Lion's goals and strategies; our ability to retain and increase the number of users, members and advertising customers, and expand its service offerings; Lion's future business development, financial condition and results of operations; expected changes in Lion's revenues, costs or expenditures; the impact of COVID-19; competition in the industry; relevant government policies and regulations relating to our industry; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. Additional information concerning these and other factors that may impact our expectations and projections can be found in Lion's periodic filings with the SEC, including Lion's Annual Report on Form 20-F for the fiscal year ended December 31, 2022. Lion's SEC filings are available publicly on the SEC's website at www.sec.gov.

 

 

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SOURCE Lion Group Holding Ltd.

FAQ

What did Lion Group Holding announce?

Lion Group Holding announced the launch of multi-currency trading account services powered by AI.

What currencies will be supported by the new trading account services?

The new services will support pricing and settlement in various currencies, including offshore Renminbi and US dollars.

How will the new services benefit investors?

The new services aim to provide cost savings and higher efficiency for investors by mitigating the impact of exchange rate fluctuations on net returns.

What is the CEO's perspective on the importance of AI in driving Lion's growth?

The CEO believes that infusing AI dynamics into core business products and services will enhance differentiation competitiveness, create incremental profit opportunities, and drive growth in the financial technology sector.