Chow Tai Fook-backed investment app launches in Singapore
05-20 14:12uSMART盈立智投

by The Edge, Felicia Tan, 29 April 2022.

The app has already been licensed by the Monetary Authority of Singapore (MAS).

uSMART Securities, an investment app that seeks to help new investors get into the markets, has launched in Singapore.

The app, which secured a Series B funding of US$100 million ($138.6 million) in February 2021, counts Hong Kong-listed jeweller Chow Tai Fook among its strategic investors.

The app has already been licensed by the Monetary Authority of Singapore (MAS).

It sets itself apart by offering “simple and intuitive” language for would-be investors looking to enter the market.

For example, technical terms such as “conditional orders” are labelled “buy low” or “sell high” on the app instead.

The app also offers easy-to-understand explanations for first-time investors to make smart investment decisions.

In addition, users will be able to interact with trading experts by following their feeds on the app, where they’ll find news and views.

uSMART is said to be the first broker that allows users to set up eGIRO access to their trading account with nine different banks. The banks include the three Singapore banks, DBS, OCBC and UOB. They also include Maybank, Standard Chartered, ICBC, HSBC, Bank of China and Citibank.

Once set up, users will be able to deposit their funds instantly, with the funds being available 24/7 to trade.

Torry Hong, founder and CEO of uSMART, says “uSMART is not only determined to provide a good trading platform with excellent user experience, but also to create value for users by providing remarkable education services and intelligent investment services continuously.”