In a strategic move to extend its global footprint, Toss Securities, a securities firm with a data-driven investment platform based in South Korea, is set to establish a new corporate office in the United States.
Toss Securities is a subsidiary of the South Korean Fintech, Viva Republica, which operates the financial super app Toss.
Its integrated account service allows customers “to conveniently trade multiple financial instruments from one account without installing a separate app.”
At a recent board meeting, the company unanimously “voted to approve establishing a U.S. office under the name Toss Securities Americas (TSA), which is expected to be established during the second half of this year.”
Kyungsoo (Peter) Kim, the current Head of Finance of Toss Securities, will be appointed as the CEO of its new wholly owned subsidiary, TSA.
This will allow Toss Securities “to bolster relationships with U.S. brokers and partners.”
Toss Securities is also actively pursuing “various non-financial business opportunities. One of its recent collaborations includes a marketing and partnership agreement with GraniteShares, one of the leading global ETF operators in the U.S.”
This partnership is part of the company’s efforts “to identify and explore potential opportunities for business expansion.”
Seungyeon Kim, CEO of Toss Securities said:
“As a market leader in Korea for U.S. securities trading, it is a clear progression for Toss Securities to expand into the U.S. market. We are already working closely with our partners in the U.S., and this establishment will significantly accelerate our business base in the market.”
Toss Securities, which launched its mobile trading platform in March 2021, has been a trailblazer in “the Korean investment industry as the first securities company of the mobile era.”
As of July 2024, the company has “more than 6.1 million customers and over 3.2 million Monthly Active Users (MAU).”
As noted in the update, Toss Securities, a subsidiary company of Viva Republica, which operates the financial super app Toss, “launched its customer service in March 2021. As a newly licensed securities company after 13 years, it provides user-centered services with UX/UI optimized for the mobile environment.”
In particular, it is the first in the industry to “introduce an integrated account service that allows customers to conveniently trade multiple financial instruments from one account without installing a separate app, and as of July 2024, more than 6.1 million customers have used Toss Securities.”
Monthly Active Users (MAU) reach “over 3.2 million to date. In addition to real-time overseas decimal stock trading, the company offers a variety of services such as community and customized content and is evolving into a data-driven investment platform.”
