Both companies aim to jointly build an ecosystem where blockchain technology can be applied in financial services, taking the strategic development of Group's fintech to a whole new level
HONG KONG, April 25, 2018 /PRNewswire/ -- China Minsheng Financial Holding Corporation Limited ("CM Financial") always puts fintech innovation high on its agenda so as to better serve the real economy and meet the clients' demand with more efficient and enhanced financial services. As a strategic platform of CMIG Asia Asset Management co., Ltd. ("CMIG Asia"), CM Financial will cooperate with the world's leading investment platform eToro in building an ecosystem where the new blockchain technology can be applied to financial service. It will promote the Group's strategy of developing fintech to a whole new level.
CM Financial has recently led the investment in eToro's E-round financing and formed a strategic cooperation partnership with the fintech pioneer. Founded in 2007 in Israel, eToro is one of the first financial technology companies to apply the copy trading technology. As of March 2018, eToro had over 9 million global users, covering over 140 countries and regions. Users can invest more than 1,500 popular financial products on the eToro platform, including 47 kinds of foreign exchange products, over 1,000 stocks in European and American markets, 12 different stock indexes, 6 kinds of commodities, 58 kinds of ETFs (exchange-traded funds) and 26 different replication funds. The users can also copy the investment portfolios and transactions of outstanding investors for free and communicate with global investors in the interactive community on eToro platform. In 2015, eToro was ranked 34th in Fintech 100 by the City of London, the United Kingdom. In 2016, eToro was ranked 7th on the list of Lujiazui's China Financial Herald Top 20 Fintech Companies.
Always attaching great importance to innovation and investor service, CM Financial adheres to the strategy for making technology a growth driver in this wave of financial technology development. CM Financial has been making full use of such digital technologies as big data, blockchain and artificial intelligence to innovate financial products and services so as to adapt financial services to a wide range of fields and make them computerized, personalized and differentiated. Such move marks CM Financial's endeavour to develop smart finance and inclusive finance. Through the combination of its own professional asset management capabilities and eToro's technological innovation capabilities, CM Financial will tailor its products and services to the needs of its customers as investors. For instance, it will provide precise solutions for clients' wealth management. The move will be part of the Group's strategies for internationalizing its business and for building a comprehensive, innovative financial service platform.