Hapi and SogoTrade launch crypto trading powered by Bakkt

Rick Steves

“International expansion remains a key priority for us in 2024. At Bakkt, we believe that crypto has the power to enhance financial inclusivity and connect communities within the global economy.”

Bakkt

Hapi and SogoTrade, in collaboration with Bakkt Holdings, Inc. (NYSE: BKKT), have launched new crypto trading capabilities, expanding their offerings to several international markets across Asia, Europe, North America, and South America.

This initiative marks a significant step in their ongoing partnership with Bakkt, a leader in digital asset services.

Hapi offering crypto in LATAM and Spain

Hapi, a stock trading platform, has extended its crypto trading services to Brazil and Guatemala, as well as Spain, enhancing its presence in Latin America. This expansion builds upon their existing operations in Argentina and Mexico, demonstrating a deepening of their relationship with Bakkt.

Hapi is a stock trading platform designed specifically for consumers in Latin America. It stands out by offering no minimums and no commissions, aiming to democratize access to the US stock market for people in the region.

This approach aligns with their mission of bringing prosperity to Latin America. Hapi allows users to easily register, transfer funds, trade stocks, and ETFs in real-time without commission, track their returns, and manage their investments efficiently.

SogoTrade expanding into Asian markets

Simultaneously, SogoTrade, a digital brokerage, has initiated crypto trading in Hong Kong and Singapore, marking the beginning of its foray into Asian markets in collaboration with Bakkt. The companies have expressed their intention to extend these services to more international markets soon.

SogoTrade is a US-based stockbroker regulated by top-tier US authorities such as the SEC and FINRA. Known for its low trading fees and user-friendly account opening process, SogoTrade is considered a good choice for beginner investors. However, its product portfolio is heavily focused on US-listed assets, and non-US clients must pay a $50 fee for wire payouts​​.

The platform offers a variety of trading options, including domestic and international stocks, options, ETFs, and mutual funds. It supports multiple languages, catering especially to Chinese speakers. The partnership with Bakkt will help SogoTrade in its Asian expansion efforts.

“International expansion remains a key priority for us in 2024”

Bakkt, established in 2018, is focused on providing solutions that enable clients to engage with the crypto economy. The company offers institutional-grade custody, trading, and onramp capabilities, positioning itself as a partner for sustainable, long-term crypto involvement. Bakkt continues to activate its services in other regions, including the UK and Australia, working closely with both current and new clients.

Gavin Michael, CEO of Bakkt, said: “International expansion remains a key priority for us in 2024. At Bakkt, we believe that crypto has the power to enhance financial inclusivity and connect communities within the global economy. Today marks an exciting new chapter, with our entry into new Asian markets like Hong Kong and Singapore, where the crypto economy is growing rapidly given recent regulatory clarity.

“We’re excited about what these regions have to offer, and our ability to make crypto more accessible to millions of people. Executing for our clients is of utmost importance and we are collaborating closely with them to ensure that we’re catering to the specific preferences of our clients and being thorough in our debut into these new markets.”

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