Copenhagen-based Saxo Bank has signed a Memorandum of Understanding to form a white label partnership with a Beijing-based fintech company.
Saxo Bank's partner is Phoenix Finance, a financial technology firm from China. The integration process will start in Q1 2017, according to a press release sent on Tuesday.
The partnership will enable Phoenix Finance to integrate Saxo's investment and trading capabilities, directly into their own applications and systems and enhance its offering to clients.
Saxo Bank's multi-asset trading technology offers access to more than 30,000 financial instruments and it is expected that Phoenix Finance's client base will have a particular interest in Saxo's international equity and fixed income offerings.
More Than 3 Million Users
The strategic partnership will be based on Saxo Bank's Open API, the Open API launched in 2015, offers partners a wide range of customizations of Saxo Bank's multi-asset investment and trading technology.
Phoenix Finance operates an online financial information and wealth management platform focused on providing users with public and private investment opportunities worldwide. Currently, Phoenix Finance has over 3 million registered users and total transaction volume of around RMB 30 billion.
