Social Trading App Shares Receives EU Stock Trading License

Fintech Startup Shares Raises $90 Million for Stock Trading App

Expanding to Europe: French Regulators Grant Key Authorizations

Shares, the innovative fintech startup behind a mobile trading app that allows users to trade stocks with no minimum trade size, has made significant strides in its expansion plans. The company has secured key authorizations from French regulators, paving the way for its entry into the European market.

A Social Twist on Stock Trading

What sets Shares apart from other neobrokers is its social feature, which allows users to follow their friends and comment on their trades. Users can also create private chats and subscribe to communities of more experienced investors. This unique approach has attracted 150,000 users in the U.K. alone.

Accreditation from French Regulators

Shares has received accreditation to operate an investment service in France from the ACPR (Autorité de contrôle prudentiel et de résolution), France’s financial regulator. The company plans to take advantage of this license by launching its services in France starting next month, with users requiring an invitation to create an account initially.

PSAN Status for Crypto Trades

The Autorité des marchés financiers has also granted the PSAN status to Shares, officially designating it as a digital assets service provider in France. This enables the company to handle crypto trades, further expanding its services.

CEO’s Statement on Regulatory Approval

"We are very pleased to receive these authorizations: PSAN registration for cryptocurrencies, and PSI license for trading in stocks and ETFs," said co-founder and CEO Benjamin Chemla in a statement. "This is the reward of an extremely rigorous team effort, of which we are extremely proud. Shares is now regulated by the French regulator, marking a decisive step in our journey, and allows us to announce our EU launch in July by invitation to our first members."

EU Expansion Plans

With these authorizations in place, Shares is poised to expand its services across Europe. The company will take advantage of EU passporting rules, allowing it to operate in other European countries.

Competitors in the Fintech Space

Shares faces stiff competition from other neobrokers that aim to make stock investment more accessible. Some notable competitors include Freetrade in the U.K., Bitpanda and Trade Republic in Europe.

Key Features of Shares’ Mobile Trading App

No minimum trade size
Fractional shares, allowing users to start investing with as little as £2
Social features for following friends and commenting on trades

Shares has successfully navigated the complex regulatory landscape to secure key authorizations from French regulators. With its innovative approach and commitment to user experience, the company is well-positioned for future growth and expansion across Europe.

About Shares

Shares is a fintech startup that offers a mobile trading app allowing users to trade stocks with no minimum trade size. The company’s unique social features have attracted 150,000 users in the U.K., and it plans to expand its services across Europe.

Sources