China’s financial information platform, iMaibo, and Zurich-based entered into a strategic partnership to work deeply on markets, technology, marketing and other aspects, aimed at providing a convenient service to Chinese investors who are interested in .
iMaibo operates a social investing platform that is tailor-made for the Chinese retail investor market. iMaibo’s integration with the brokerage firm also gives users access to its top traders or “KOLs” and allows them to shadow their trading decisions or communicate with each other in real time.
Ayondo says this co-operation is precisely intended to leverage its execution infrastructure, product suite, social trading platform “WeTrade” in order to satisfy Chinese investors’ demand for global asset allocations and new investment vehicles.
In addition, iMaibo will help ayondo secure a $1 million loan, which could be used for restructuring the ’s business, acquiring an equity stake in iMaibo or expanding into new business areas.
Expanding into Asia
a broad spectrum of services that cover both retail and institutional sectors. The group claims to have 210,000 users from 195 countries on its social trading platform.
Ayondo has recently inked more than 25 B2B partnership deals in Asia, ranging from white label partners to introducing brokers. In Singapore, the company teamed up with local brokerage firm to launch a contracts for differences (CFDs) platform, also based on Ayondo’s existing TradeHub system.
Commenting on the news, Mark Street, Interim-CEO of ayondo, said, “Going forward, ayondo will primarily focus on its core Social Trading business, while continuing to develop B2B business with existing and new Asia based partners. While strengthening the financial base and the current European B2C-Social Trading-business with fresh funding from iMaibo, the strategic partnership with the community-based financial platform will support further expansion into Asia – particularly China.”
iMaibo’s founder Water Cheung added: “This is a great strategic opportunity for both parties to grow an even stronger and robust Social Trading business in China for domestic and international clients as well as the rest of Asia. We believe that both iMaibo and ayondo have strong synergies to build a very successful joint business.”
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