Doo Group gets two new licenses in Hong Kong
Singapore-based financial services provider Doo Group has secured two new approvals from the Securities and Futures Commission (SFC) of Hong Kong. The firm has been granted Type 4 (advising on securities) and a Type 9 (asset management) licenses by the regulator.
Leveraging its fintech background, Doo Group plans to tap into its presence in the market to provide a viable alternative to traditional asset management. Having secured a type 4 licence, which allows it to offer securities investment, the company mainly targets investors who are looking for a more personalised option at a lower fee threshold.
The licenses give Doo greater room to now provide more services to clients, whether they want to trade global capital markets or invest in OTC assets. Hong Kong is a key growth market for the company and a gateway connected to mainland China.
Doo Group has been cultivating strong and professional teams across the world throughout its journey. With over 550 industry professionals working professionally for its clients, Doo Group has established over 10 offices that provide services to clients across more than 40 countries and regions. The obtainment of the licenses further demonstrates the rapid growth of Doo Group in diversified global financial markets, especially during times of uncertainty,” the company said.
Just celebrating its 8th anniversary in November 2022, has secured a lucrative sponsorship deal with English soccer giant Manchester United. The multi-year arrangement runs from this year and names Doo Group as Manchester United’s official online financial trading platform partner.
The agreement marks a first foray into sports sponsorship for Doo Group, which is headquartered in Singapore but also has offices in Dallas, London, Sydney, Hong Kong, Dubai, and Kuala Lumpur, as well as other major cities around the world.
Doo Group will take advantage of advertising opportunities across the club’s various communications channels as well as engaging with both the club’s supporters and sponsors. The partnership will involve the promotion of Doo Group and its sub-brands, Doo Financial and Doo Prime.
The deal is the latest example of a growing trend of football clubs signing up FX brokers as they seek to gain an edge in player trading. Sports sponsorship have long been a way for businesses to extend their global reach. In recent months, there were also numerous sponsorship deals connected with lower-profile sports, including chess and e-sports.