Critical Ideas Limitedtrading as Chipper Casha cross-border payment application has received a broker-dealer license from Ghana Securities and Exchange Commission (SEC).
Details
The license gives Chipper Cash the legal authority to engage in securities brokerage, serving both individual and institutional clients.
Chipper Cash customers will be able to buy and sell stocks, bonds and other securities directly within the app, making it a one-stop shop for investment management.
The license also gives Chipper Cash direct market access, enabling faster transaction execution and more competitive pricing, placing it ahead of competitors without such privileges.
Because this matters
By offering wealth management services, long-term financial planning and estate planning advice, Chipper Cash can further diversify its revenue streams.
In addition, the app will offer personalized investment advice using artificial intelligence and data analysis, as well as access to Initial Public Offerings (IPOs), giving users early opportunities to invest in companies going public.
Chipper Cash also plans to introduce fractional investing, allowing users to invest in high-priced stocks or ETFs with smaller amounts of money, a feature that will likely appeal to younger or novice investors.
What They Say
Commenting on the new development, Mr Dion Jon Taylor SamsonManaging Director of Chipper Cash in Ghana, said: βIt is very important for any entity entering a market to adhere to the rules and regulations set by regulatory bodies. While it can be time-consuming and sometimes frustrating, it ensures business longevity and protects both the company and its customers. We are excited to bring innovations to the financial market in the digital payments space.β
Source: Citinews
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