More than a year after the launch of a joint venture with Kenanga, a Malaysian financial services company, Japan's Rakuten has received approval from the country's regulator.
Japan’s Rakuten Securities has secured a capital markets licence from the Securities Commission Malaysia, through a joint venture (JV) with Kenanga Investment Bank (KIBB).
The newly acquired license will allow the JV to carry out activities in securities restricted to listed securities and investment advice.
Spreading Asian Coverage
Rakuten announced the JV with KIBB in April 2016 to collaborate in providing online brokerage services in Malaysia through EB Global JV.
The formation of the JV is part of Rakuten’s strategy to expand its Asian presence. In April 2016, online forex trading broker FXCM Asia was rebranded as Rakuten Securities Hong Kong following Rakuten’s acquisition of FXCM Asia.
