Bytedance applies for financial licenses in Hong Kong

Amid escalations in the tech war, Bytedance has applied for five financial licenses in Hong Kong through its local subsidiary.
Why it matters: If approved, the licenses would allow Bytedance to sell securities and futures, trade foreign currency, as well as offer advisory and asset management services in Hong Kong.

  • Bytedance will be competing with Alibaba and Tencent, which have already established a presence in Hong Kongs online brokerage and financial advisory markets through local…

    Click here to view the original article.