DragonFi Securities Inc., a new brokerage firm led by tycoons Tony Tan Caktiong and Edgar Sia II, plans to launch a technology-driven investment platform by the fourth quarter of 2022.
DragonFi said in a statement the new investment platform would provide investors with most advanced web and mobile applications and offer fast, reliable and secure trade executions in the local equity market.
It also intends to provide exclusive digital financial tools and content that is timely, enriching and easily digestible that can help its customers improve investment outcomes.
DragonFi is owned by BeeDragon Global Group Inc., which was formerly called Tristate Securities Inc.
BeeDragon, a joint venture of Tan Caktiong’s Honeystar Holdings Corp., Injap Investments Inc. and the group of Jon Carlo Lim, acquired Tristate in November last year.
BeeDragon will be the corporate entity that will house the group’s fintech-related endeavors.
BeeDragon will be managed by Jon Carlo Lim as president and chief executive, Cathryn Ann Lao as director and chief technology officer, Sia as chairman and Tan Caktiong as co-chairman.
“We believe that harnessing the power of technology in a financial services context can be a force for good. Currently, less than 2 percent of the Philippines’ working-age population has a stock brokerage account. By making investing convenient and effortless, we hope to broaden participation in the capital markets, one of the key builders of wealth,” Lim said.
“We aspire to democratize personal finance in a meaningful way by leveraging best-in-class investment technologies. It is our intention to provide wealth-building tools to effect the dispersion of economic prosperity to more Filipinos,” he said.
Sia said the venture is expected to have a significant long-term growth potential.
“Over the long term, we also see the fintech space creating the synergic gel that would enhance and bring benefits to the various other business units in our ecosystem,” Sia said.
