BYTEDANCE MOVES TO STOCK BROKING

ByteDance parent company of  TIK TOK is going through these days saving its self from the ban, building its own data center, thought on selling itself to the American company like Microsoft, Twitter and now the parent company of TIK TOK, ByteDance steps towards online stockbroking.

There is a report from Reuters that Byte Dance which posses TIK TOK will be moving towards online stock brokers, wealth management business. The report says that Byte Dance applied this last year in December for a Trade Mark 松鼠证券 which when translated comes out to be Squirrel Security there in Hong Kong.

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This trademark which is applied for according to the database is for online stock trading, stock exchange, brokerage service, the company has the license but there is no official announcement on it.

After the establishment of the new law in china which was New National Security Law, TIK TOK was moved out of Hong Kong by its parent company Byte Dance, biding is going on for TIK TOK other than Microsoft Twitter has also shown interest in buying so TIK TOK can be bought by either of the company but there is no update right now on this.

A fintech banker there in Beijing said that its good to go through the opportunities available in Hong Kong and where the wealth management business is dominated by affiliate Ant group Alibaba and Tencent-backed Futu, Tiger Brokers, and other company in china owns stock Broker in Hong Kong.