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Fast Food Billionaires Launch Philippine Online Investment Platform

After a year of development, the Philippine online investment platform DragonFi was launched, offering users a customizable stock trading experience, advanced charts and “lowest possible fees”

Philippine online investment platform

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Tony Tan Caktiong and Edgar Sia, the billionaires behind local fast-food restaurant chains Jollibee and Mang Inasal, have co-founded DragonFi – the newly launched Philippine online investment platform.

Having been developed for a year, Dragon Fi offers a bunch of advanced trading features and a convenient interface. These include personalized layouts, multi-monitor support, and sophisticated charts with over 100 studies, indicators, and drawing tools.  The investment platform is available both on the web and as a separate mobile app. According to the company’s declarations, opening an account on the platform takes about 30 minutes.

As reported by Bloomberg, both Caktiong and Sia have invested undisclosed amounts in the startup. Another co-founder of the company and its CEO, Jon Carlo Lim stated that DragonFi aims to become the leading investment platform in the country, sharing “the same technology as some of the largest brokerage firms in the US.”

The ambitious Philippine trading firm is striving to compete against large international players such as Charles Schwab, TD Ameritrade, Thinkorswim, and Interactive Brokers. Currently, about a third of the 125 brokers active in the country offer online trading facilities. However, customizable layouts are rare in the provided investment services. Besides, the new platform claims to offer more innovative underlying cloud-based trading technology.

According to Lim, the platform may also handle other assets and foreign markets, once getting proper licensing from regulators. DragonFi ambitiously targets to handle 100 billion pesos ($1.8 billion) in cumulative trading transactions in 24 months, while developing “a technology-driven ecosystem of wealth-building tools that will empower every Filipino towards the attainment of his or her financial aspirations.”

We have previously reported that Twitter will offer crypto trading via eToro.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.