MoneyHero Limited, a company that helps people compare financial products and buy insurance online in Southeast Asia, has teamed up with OSL Group Limited, a digital asset platform. This partnership will help MoneyHero offer more digital asset investment products to customers in Hong Kong.
MoneyHero said in a statement last Sunday that it is working with licensed companies in Hong Kong to offer new digital asset services. This is an important move as the company expands its financial products in Hong Kong. The goal is to help improve the economic health of people in the city.
Thanks to this partnership, MoneyHero users can now easily compare digital asset accounts from top licensed platforms like OSL, along with insurance, stocks, and bank accounts. This helps them choose smarter and better financial products that fit their needs.
Increasingly, people in Hong Kong are interested in digital assets because they seek alternative options for managing their finances.
Data from the Investor and Financial Education Council (IFEC), a part of the SFC, shows that in 2023, 8% of regular investors in Hong Kong invested in virtual assets and related products. That’s a big jump from only 1% in 2019. Additionally, 11% of investors reported plans to invest in these products.
This indicates that more people are getting involved and interested, which is what MoneyHero and OSL are helping to achieve.
“We are thrilled to work with OSL, a recognized leader in the regulated digital asset space in Asia,
“This collaboration reflects our unique value proposition and position as the leading digital acquisition partner for the majority of banks across Greater Southeast Asia, which we are leveraging to extend our offerings into the digital asset space,” said Rohith Murthy, Chief Executive Officer of MoneyHero.
“We are committed to providing our users with comprehensive financial solutions and access to emerging asset classes in a responsible and informed manner,
“OSL’s strong regulatory compliance and institutional expertise provide valuable support for our expansion into the sector where we also see significant potential to broaden our offerings in the future,” he added.
Jack Derong, Chief Marketing Officer of OSL, said the company is happy to team up with MoneyHero, a well-known and trusted platform in Southeast Asia.
“We believe that providing accessible and regulated pathways to digital assets is crucial for the industry’s sustainable growth,
“MoneyHero’s extensive user network and transparent and reliable comparison tools will empower a wider audience with the knowledge and access to participate in the digital asset economy with confidence,” he added.
Its brands include customer-focused platforms like MoneyHero, SingSaver, Money101, Moneymax, and Seedly, as well as a business-focused platform called Creatory.
The company also owns a stake in a Malaysian fintech company called Jirnexu Pte. Ltd., which operates RinggitPlus, the largest customer platform in Malaysia.
By the end of 2024, MoneyHero had more than 290 business partners and about 6.2 million unique users visiting its platform every month during the last three months of the year.
The company is backed by prominent figures such as Peter Thiel, who co-founded PayPal and Palantir Technologies and Richard Li a renowned businessman from Hong Kong who founded Pacific Century Group.
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