fintech startups share Raised $90M for its stock trading app. However, this service is only available to those living in the UK. But that is about to change as the company has received multiple authorizations from French regulators. Shares can also be extended to other European countries under prevailing EU rules.
As a reminder, stock trading allows you to trade stocks with no minimum trade size. The company offers fractional shares, meaning you can start investing with as little as £2.It competes with other new brokers trying to make stock investing more accessible, such as free trade in England, bit panda and trading republic in Europe.
But what sets Shares apart from other mobile trading apps is its social capabilities. By sharing, you can follow your friends and comment on their trades. Users can also create private chats and subscribe to a community of more experienced investors.Shares has attracted 150,000 users in the UK to date
Shares has just been accredited by ACPR to operate investment services in France (Bureau of Prudential Control and Disposal), the French financial regulator. The company plans to take advantage of the license early, as it plans to issue shares in France starting next month. First, you need to be invited to create an account.
French financial market regulator (Financial Markets Authority) PSAN status was also recently granted to Shares — the startup is now officially a digital asset service provider in France, meaning it will also be able to handle cryptocurrency transactions.
“We are delighted to have received these authorizations: PSAN registration for cryptocurrencies and PSI license for stock and ETF trading. This is the reward of an extremely rigorous team effort, of which we are very proud. Stocks are now regulated by the French regulator, This marks a decisive step in our journey and enables us to announce our launch in the EU by inviting the first members in July,” co-founder and CEO Benjamin Chemla said in a statement Indicated.
As you can see, today’s news will pave the way for future market expansion in the EU.