By connecting to Calastone via an API, Stashaway will leverage Calastone’s distributed market infrastructure to promote its offering to a global audience.
Calastone, the largest global funds network, has announced that Singapore robo-advisor Stashaway has connected to its network to automate investment funds processing.
The connection gives Stashaway more control over its positions, with on-demand access to all its fund trade data passing through the Calastone network, which improves its ability to adapt quickly to any market changes, Leo Chen, managing director and head of Asia, Calastone, said in a statement on Tuesday.
Calastone also noted its growth in Asia, alongside the rising volume of fund transactions in Hong Kong, Singapore and Taiwan.
Gaining Traction
Launched in 2017, Stashaway operates a data-driven digital wealth management platform that allows users to manage their investments through a mobile app with no minimum balance, no sales charge and management fees of between 0.2–0.8 percent.
It was the first robo-advisor to receive a full capital-markets services license from the Monetary Authority of Singapore. In the statement, Stashaway said it has been expanding its client base – now over 100,000 users – and is «well-positioned for further growth in Asia.»
