Consumer financial services platform SoFi is making its first expansion outside of the United States with the acquisition of Hong Kong-based investing app 8 Securities.
The terms of the deal were not disclosed. Targeted to personal investors, 8 Securities will rebrand to SoFi Hong Kong and retain its team, who will began launching services in other markets as well.
SoFi currently has about one million members in the U.S. Last month, it acquired payments and bank account infrastructure company Galileo, with the goal of expanding its products further beyond consumer services.
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