Hong Kong SFC Licenses TigerWit
The Hong Kong, Securities and Futures Commission, confirmed that TigerWit received their financial license. This comes after TigerWit looked to expand operations, with the financial institution located in the United Kingdom. Expansion towards global foreign exchange will begin immediately, with previous dealings in the Asian community allowing for fast growth. Previous global developments for TigerWit included entering the Bahamas Market, which became successful. Subsequently, this means that this financial exchange maintains three operational licenses.
Before the Securities & Futures Commission confirmed this announcement, TigerWit made a statement to financial news outlets. Their report expressed that this is a significant development for the firm, which will continue to become a globally recognized name in the 2020s.
Executives with the TigerWit exchange expressed in their announcement that new products would be provided in Hong Kong. This will include additional trading solutions, such as indices or global stock exchange. It’s their mission to improve the financial circumstances of economies that need developing. After the continuous protests in Hong Kong, TigerWit couldn’t have received their license at a more critical moment. Below are the official statements made by the CEO.
The Chief Executive Officer of TigerWit, Tim Hughes, stated: “Securing a licence from the Securities and Futures Commission of Hong Kong is a significant milestone for TigerWit and represents another crucial part of our roadmap achieved. By gaining this licence, we are another step further on our journey to offering our innovative trading solutions globally. Being regulated in the right jurisdictions allows us to expand our operations while ensuring that our clients are afforded the relevant protections.”
This extended to a smaller statement made by the Vice President of TigerWit, Frederic Youssef. He stated: “Obtaining the SFC license in Hong Kong will allow us to penetrate the vibrant ASEAN markets, and serve our partners through one of the most reputable financial regulations.”