The new expansion into Hong Kong is SoFi’s first foray into international markets; SoFi Invest will allow investors access to brokerage, automated investing and ETFs through the SoFi app; trades are also commission free; the move into Hong King was made possible through an acquisition of the parent of the online brokerage firm 8 Securities; SoFi will continue to serve existing customers of 8 Securities; CEO Anthony Noto stated, “We underwent an extensive evaluation process when considering our initial expansion into an international market, and it was clear that Hong Kong, a financial capital of Asia, is ripe for innovation and a launching pad for further expansion in both product and geography…Leveraging the learnings from SoFi Invest platform in the U.S., SoFi can meet the needs of both experienced and novice investors alike in Hong Kong, all in support of our overall efforts to make headway on our mission to help people get their money right. Because when it comes to achieving financial independence, investing is not optional – it is imperative.” PR Newswire
