Benzinga | Sep 30, 2020 08:21AM EDT

Lion Announces Business Expansion Into Vietnam

-Represents First Step of Strategic Expansion into Southeast Asia Region -

HONG KONG, Sept.30, 2020 /PRNewswire/ -- 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 with a focus on Chinese investors, today announced its plans to expand its service offerings into Vietnam.

Lion will introduce a Vietnamese-language version of its CFD trading platform, Lion Brokers Pro, in October 2020. The Company currently has a team in place in Ho Chi Minh City to support the expansion and will engage local enterprises as part of promotion and marketing efforts. Lion expects to begin generating revenue from the business expansion in the fourth quarter of 2020.

"This move marks a milestone moment in the growth of Lion as our first foray out of the greater China region as part of our larger strategic expansion plan," said Mr. Chunning (Wilson) Wang, CEO of Lion, "Vietnam's fast-growing economy and large population of young people makes Vietnam an attractive market for our trading and investment services and will increase and diversify our potential customer base. While China remains our core market, we also believe there are strong growth opportunities in Southeast Asia. As we continue to pursue opportunities for business growth and regional expansion, we remain committed to delivering our services and developing innovative products to support the needs of our customers."

In addition to Vietnam, Lion is targeting Singapore in the next tranche of its strategic plan to expand in Southeast Asia. The Company established a subsidiary and office in Singapore earlier in 2019 and applied for a capital markets services license with the Monetary Authority of Singapore. Approval is expected in the first half of 2021.