Saturday, November 27 2021

A significant portion of its clients are “well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong.”

Lion Group announced that its Singapore subsidiary has obtained a capital markets service license from the country’s financial supervisory body, MAS.

Monetary Authority of Singapore CMS license allows Lion Singapore to trade in exchange-traded derivative contracts, over-the-counter derivative contracts and spot foreign exchange contracts for the purpose of leveraged currency trading .

Chunning (Wilson) Wang, CEO of Lion, said, “We are delighted to bring Lion to Singapore and expand our regional presence in Asia. As part of our strategic expansion plan, this step allows us to explore new business opportunities in Southeast Asia. Singapore is one of the world’s leading financial centers, and we hope this new license will boost our existing CFD and TRS business, generating value for our shareholders.

Lion Group now has licenses in Hong Kong, Singapore, Cayman Islands and Dubai as the company expands globally. The company intends to establish its new office and have dual headquarters in Hong Kong and Singapore.

Lion offers Contracts for Difference (CFD) trading, insurance brokerage, term brokerage and securities brokerage on its platform. The group is also a developer of new growth products which include SPAC sponsorship, NFT and Metaverse related initiatives.

A significant portion of its clients are “well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong.”

Earlier this year, Lion Group completed the acquisition of 100% of Lion Fintech Group Limited, which owns 70% of the voting rights and economic interests in Royal Lion Investment Limited, a company incorporated in the Cayman Islands, which owns 100% the interests of Royal Lion Middle East DMCC, which is authorized to conduct proprietary crypto-commodity transactions through the Dubai Multi Commodities Center (“DMCC”).

Royal Lion Middle East DMCC is the licensee with DMCC which supports FIAT currency. This transaction will allow Lion customers to exchange FIAT currencies with cryptocurrencies on an efficient and secure platform.

“We are delighted to complete this acquisition and expand our trading activity into the crypto asset market. As the financial services industry continues to evolve, Lion remains committed to expanding its service offerings to meet the business needs of our clients while continuing to create meaningful value for our shareholders, ”CEO Wang told the era.


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