JB Financial Group Dives into Vietnam's Fintech Space, Acquires Minority Stake in Infina

Friday, 08/03/2024 | 19:00 GMT by Jared Kirui

This partnership aims to expand JB Securities' customer base in Vietnam.

Infina plans to expand into the securities space and neighboring countries like Cambodia.

JB Financial Group has taken a significant step into Vietnam's fintech sector by acquiring a minority stake in the retail investing app Infina. According to the Korea Herald, this move aims to bolster JB Securities Vietnam's presence in the country and tap into its growing stock market potential.

Infina's Expansion Plans

Infina, boasting over 500,000 monthly active users, seeks to diversify into the securities realm and extend its footprint to neighboring countries like Cambodia. The collaboration with JB Financial Group serves as a crucial catalyst for Infina's expansion ambitions, offering a pathway to local and global markets.

JB Securities Vietnam's CEO, Kim Doo-yoon, mentioned: "In the Vietnamese stock market (which has) great growth potential, collaboration with various local partners such as fintech companies can be a desirable way to expand the customer base. We will create a case for building a coexistence ecosystem with fintech companies through close collaboration with Infina."

JB Securities Vietnam, headquartered in Hanoi, has been steadily broadening its financial service offerings. From stock brokerage to corporate bond issuance management, the firm launched the Finavi securities trading platform in 2023 to tap into mobile stock trading and margin loan markets.

Future Prospects and Collaborative Endeavors

Kim Doo-yoon emphasized the potential of collaboration with local fintech players in Vietnam's thriving market.

JB Financial Group's foray into Vietnam's fintech landscape extends beyond Infina. With strategic investments in Korean fintech entities like Hanpass and Finda, the group targets partnerships in the rapidly evolving financial technology sector.

Last month, Blue Ocean Technologies, a key player in the trading services sector, expanded its global presence with partnerships across South Korea, Hong Kong, and Japan. The firm's collaboration with DriveWealth marked a significant step in its efforts to enhance the accessibility of equities trading and data availability for investors.

The partnership between Blue Ocean Technologies and DriveWealth aims to provide access to equities trading and bridge time zones to facilitate trade executions. DriveWealth's connectivity enables real-time trading 24/7, catering to investors across various regions, regardless of their local trading hours.