Critical Ideas Limited, trading as Chipper Cash, a cross-border payments app has been granted a broker-dealer license by Ghana’s Securities and Exchange Commission (SEC).
Details
The license gives Chipper Cash the legal authority to engage in the brokerage of securities, 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 managing investments.
The license also provides Chipper Cash with direct market access, allowing for faster trade execution and more competitive pricing, positioning it ahead of competitors without such privileges.
Why This Matters
By offering wealth management services, long-term financial planning, and estate planning advice, Chipper Cash can further diversify its revenue sources.
Additionally, the app will offer personalised investment advice using AI and data analytics, as well as access to Initial Public Offerings (IPOs), providing users with early opportunities to invest in companies going public.
Chipper Cash also plans to introduce fractional investments, enabling users to invest in high-priced stocks or ETFs with smaller amounts of money, a feature likely to appeal to younger or novice investors.
What They’re Saying
Commenting on the new development, Mr Dion Jon Taylor Samson, Chief Executive Officer of Chipper Cash in Ghana, said: “It is very important for every entity that enters a market to adhere to the rules and regulations set by the regulatory bodies. While it can be time-consuming and sometimes frustrating, it ensures longevity in the business and protects both the company and its customers. We are excited to bring innovations in the financial market into the digital payment space.”
Source: Citinews
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