China-based online brokerage Futu has launched its one-stop investment platform moomoo in Singapore.

The company, which recently celebrated the second anniversary of its NASDAQ listing, also opened its regional headquarters in Singapore to better serve the Southeast Asia region.

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It currently has offices in China, Hong Kong Special Administrative Region, and the US. The expansion to Singapore follows the company’s move to capitalise on the region’s rapidly increasing adoption of digital services.

moomoo, which is strategically backed by Tencent, is designed to be ‘technology-driven and international version’ of Futu’s investing platform.

It will offer market accessibility and data options to both seasoned and new investors in the region.

Futu founder and CEO Leaf Li called the firm’s expansion into Singapore a strategic decision to serve as a bridge into the rest of Southeast Asia.

Li said: “Singapore’s digital friendly environment, high-quality infrastructure, and efforts in adopting technologies have also made it an ideal location for us to expedite our foray into international markets.

“With over a million retail investors there, we believe that there is huge potential in the local market which will serve as a strong growth driver for us as our products are quite different from other products in the Singapore market. Currently, we have already set up our local headquarters and are looking to scale up our business moving forward.”

The company said that its Singapore arm will aim to offer the lowest fees and trading minimums in Singapore through moomoo for investing in Hong Kong SAR, Singapore, and US securities.

Meanwhile, last week, Goldman Sachs unveiled plans to hire around 100 new people in Singapore, a move that will increase its headcount in the Southeast Asian financial hub to over 1,000.