Hong Kong-backed Saudi online trading app sees ‘massive success’ as it signs up 300,000 users in months
- Valuable Capital, Hong Kong’s second-largest online broker, launched Sahm Capital in December, allowing users to trade in both Saudi and US markets
- The platform, which aims to offer comprehensive financial services such as investment banking and asset management, has applied for new licences
A Hong Kong-based financial services provider is looking to attract Saudi Arabia’s retail investors to its recently launched online trading app in the Middle East’s largest capital market with innovative offerings, as financial ties continue to deepen between the two sides.
The app has seen “massive success”, driven by innovative app design and some promotional initiatives, according to Steven Chou, the chairman of Sahm Capital.
“We’re bringing new technology, new initiatives, new mindsets to the market,” Chou said in an interview with the Post at the Saudi Tadawul Group’s flagship Capital Markets Forum in Hong Kong on Thursday.
Valuable Capital, the second-largest online broker in the city by trading volume, is backed by Chinese technology company Sina Corp.
