DriveWealth has signed its first partnership in Thailand, with the country’s leading online securities trading provider, SBI Thai Online Securities Co., Ltd. (SBITO). The deal will bring local investors direct access to the U.S. stock market and their first opportunity to participate in fractional share trading. The move follows the relaxation of rules by the Thai Ministry of Finance and Bank of Thailand, effective last month, enabling retail investors to invest directly in foreign securities.
The U.S. based leader in global digital trading technology will provide its technology and brokerage execution services to bring SBITO‘s individual investors in Thailand direct online access to trading in U.S. stocks, including in the form of fractional shares that DriveWealth has pioneered.
As DriveWealth prepares to provide SBITO with direct access to the U.S. stock market, the Thai broker has partnered with FusionIQ to design the white-label front-end digital platform. The service will be offered under the brand SBITrade USA.
Robert Cortright, Chief Executive Officer at DriveWealth, said: “SBITO has a tremendous product offering and client base, and we are thrilled to play a role in its efforts to increase opportunities for Thai investors to participate in the largest stock market in the world. The new SBITrade USA helps investors make informed decisions and easily buy or sell U.S. stocks in a way that mirrors how they might pursue an online purchase from a store.”
Yukiko Roberts, Chief Executive Officer at SBITO, commented: “SBITrade USA was born out of a dynamic collaboration and strong partnership among three innovative companies: DriveWealth, FusionIQ and SBITO. We are now able to provide opportunities to Thai investors to purchase or sell whole or fractional shares in U.S. stocks with a very user-friendly online experience.”
DriveWealth has been active across the world to forge agreements to increase affordable access to the U.S. markets to investors of all sizes in the U.S., Nigeria, India and Brazil, as well as in Europe through with Revolut.
In India, the firm partnered with Vested Finance, a U.S. registered investment adviser (RIA) serving the retail investor market in India. The company has developed a proprietary ecosystem powered by licenses to clear fractional-share orders. Partners around the world and hundreds of thousands of clients have access to invest in a highly stable, liquid, and regulated financial system. The proprietary infrastructure allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.
In Nigeria, DriveWealth, which is regulated by FINRA/SIPC, partnered with Sigma Securities Limited, a leading Nigerian brokerage firm and Africa-based financial app developer Trove Technologies. In Brazil, the firm partnered with Miami-based online brokerage Avenue Securities, which provides easy access to mostly Brazilian retail investors interested in securities traded on U.S. exchanges.