DriveWealth Partners with Chaka, New Global Trading Platform in Nigeria, to Increase Access to U.S. Stock Market
- Digital Identity , Trading Systems
- 16.10.2019 12:01 pm
DriveWealth, LLC, a U.S. based leader in global digital trading technology, announced today a new partnership with Chaka, a global trading platform based in Nigeria that launched Oct. 15. Chaka’s technology-enabled platform, offering customers access to Nigerian and global financial assets, is using the DriveWealth platform to provide Nigerian clients access to U.S. stocks.
DriveWealth CEO Robert Cortright said: “Chaka has developed outstanding technology that we’ve integrated with our customizable APIs to make it easy for clients in Nigeria to participate in the U.S. stock market. At a time when many Nigerians are seeking foreign investment opportunities for diversification purposes, this partnership fulfills an important component of Chaka’s global offering with access to the largest and most liquid stock markets in the world.”
Tosin Osibodu, CEO of Chaka, said: “We are excited to partner with DriveWealth to provide our customers with access to U.S. markets. The company offers best-in class technology for international trading to Nigerian investors, including the ability to start investing in an easy, affordable manner with fractional shares. Traditionally, international investing has been a daunting task for Nigerians. Through our partnership, Chaka and DriveWealth are helping to fill this gap. Integration of our technologies has gone very smoothly, and we see this as an important long-term partnership for Chaka.”
Citi Investment Capital Limited, a licensed Nigerian stockbroking firm, is facilitating the brokerage transactions for Chaka clients.
Seun Oluwole, CEO of Citi Investment Capital Limited, said: “Chaka has been a catalyst for expanding our digital efforts, bringing new markets to our customers. Through its collaboration with DriveWealth, we are ensured that local investors can own a stake in U.S. based companies. By marrying their technology with our personal touch for customers, we are excited at the possibilities these partnerships bring to the Nigerian market.”
DriveWealth has launched partnerships with firms on six continents, offering its innovative investing technology and a customizable suite of application programming interfaces (APIs) that partners can use to provide major new investment capabilities to their clients. Through these partnerships, the firm has pioneered bringing digital access to the U.S. securities market for individuals around the world, enabling investors of any size to gain affordable access to the U.S. stock market with a straightforward online user experience.
This year alone, DriveWealth has increased access to the U.S. markets with new partnerships in India, Nigeria and Brazil, in addition to a major new partnership with Revolut throughout Europe. DriveWealth, which launched its patent-pending real-time fractional share trading capabilities in 2016, was founded with the mission to democratize investing in the U.S. stock market. The firm is dedicated to eliminating barriers investors typically encounter with legacy brokers, creating its own proprietary infrastructure that allows investors to purchase securities without minimum account balances, high transaction costs or full share quantities.