Benzinga | Oct 4, 2021 08:27AM EDT

Lion Announces Singapore Trading License, Expanding Southeast Asia Presence

Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ:LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services and developer of new growth products that include SPAC sponsorship, NFT, and Metaverse-related initiatives, today announced its subsidiary Lion International Financial (Singapore) Pte. Ltd. ("Lion Singapore") has been granted a Capital Markets Service License ("CMS License") from the Monetary Authority of Singapore.

The CMS License allows Lion Singapore to deal in exchange-traded derivatives contracts, over-the-counter derivatives contracts and spot foreign exchange contracts for the purposes of leveraged foreign exchange trading.

"We are pleased to establish Lion into Singapore and expand our regional Asia presence," said Mr. Chunning (Wilson) Wang, CEO of Lion. "As part of our strategic expansion plan, this milestone allows us to explore new business opportunities across Southeast Asia. Singapore is one of the world's primary financial centers, and we expect this new license to boost our existing CFD and TRS businesses, generating value for our shareholders."

With the initiation of Lion Singapore, the group now has licenses in Hong Kong, Singapore, Cayman Islands and Dubai. The Company intends to establish its new office and have dual headquarters in Hong Kong and Singapore.