SoFi is expanding into international markets for the first time with its acquisition of 8 Securities, an online brokerage firm based in Hong Kong.
“As one of the financial capitals of Asia and a global financial center, it has a strong base of both novice and sophisticated investors that would benefit from the innovation we could bring to the market. To that end, in Hong Kong, SoFi Invest will be the only comprehensive investing platform that offers access to brokerage, automated investing, and ETFs, all within the SoFi app ecosystem, complete with commission-free trading.”
SoFi Press Release
The deal comes only two weeks after SoFi announced they would be acquiring Galileo. It makes them one of the only aggressive acquirers in a slow market.