Enter the cryptocurrency business! Fortis and Tiger Securities Apply for Overseas Licenses

Client enthusiasm for IPOs has cooled significantly compared to last year, and it seems that attention is turning to the cryptocurrency market, especially after the Coinbase IPO.

Enter the cryptocurrency business! Fortis and Tiger Securities Apply for Overseas Licenses

Recently, two brokerages, Fortis and Tiger, revealed in a conference call that they are applying for cryptocurrency trading licenses in the US and Singapore.

In recent months, many cryptocurrencies other than Bitcoin have become a hot topic of market attention, and regulatory measures have been frequently introduced in various countries to limit speculation in the market.

But market enthusiasm for cryptocurrency trading remains hot, with U.S. trading platform Robinhood launching bitcoin and ethereum trading with the beginning of 2018, and this year, its cryptocurrency trading users have grown by an average of 3 million per month. In April this year, US cryptocurrency trading site Coinbase also went public on Nasdaq.

This has led to a flurry of activity among up-and-coming Internet brokerages.

Arthur Chen, chief financial officer of Fortis, said, “We have heard the call for cryptocurrencies from around the world and the company hopes to launch cryptocurrency-related products as soon as the end of this year.”

Arthur Tan also said that since Fullway hit the Singapore market in March this year, it has gained more than 100,000 paying subscribers in less than three months and that a quarter of the new growth in paying subscribers in the first quarter came from Singapore and the United States.

Both Fortis and Tiger Securities are new brokerages with distinct Internet attributes, as they both attract customers through the social features built into their namesake platforms.

Meanwhile, Tiger Securities CEO Wu Tianhua said that overall, customer enthusiasm for IPOs has cooled significantly compared to last year, with attention seemingly shifting to the cryptocurrency market, especially after the Coinbase IPO.

Last week, both Fortis and Tiger Securities were newly included in the MSCI index.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/enter-the-cryptocurrency-business-fortis-and-tiger-securities-apply-for-overseas-licenses/
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