Hong Kong

Stashaway reportedly Plans to Expand Into Hong Kong

Stashaway, a Singapore-based FinTech is reportedly planning to expand into Hong Kong.

The firm has been awarded relevant licences, including dealing in securities (Type 1), advising on securities (Type 4) and asset management (Type 9), from Hong Kong’s Securities and Futures Commission (SFC) to operate in the special administrative region (SAR), according to the regulator’s records, International Adviser reported in a news report, written by Francis Nikolai Acosta.

Stashaway’s responsible officers in Hong Kong are Chan Sik Lam, Michele Ferrario and Stephanie Leung, the records show. Ferrario is the firm’s co-founder and chief executive, while Leung heads Stashaway in Hong Kong.

The firm has been active in expanding outside of its home market. After first launching its platform in Singapore in 2017, Stashaway expanded into Malaysia in 2018, when it was awarded a capital market services licences to carry out fund management activities.

In November 2019, the firm launched in the Dubai International Financial Centre (DIFC) to service clients in the United Arab Emirates and the broader Middle East and Africa region.

As of January 2020, Stashaway managed assets of more than USD1 billion.