DriveWealth extends to UAE with Wealthface agreement
US-based trading technology firm DriveWealth has signed a partnership agreement with Wealthface, a wealth management platform located in the UAE.
The deal is the first for DriveWealth in the Middle East, and will see its brokerage execution services deployed Wealthface, allowing the latter to offer US stock market access to its clients.
“Our partnership with DriveWealth is a significant manifestation of our vision to make the US equity market accessible to everyone everywhere,” says Bilal Majbour, CEO of Wealthface.
“We want to enable all types of investors to access investment solutions previously unavailable to online investors using our cutting-edge technology at a low cost.”
DriveWealth offers its partners what it calls a “unique investing technology” integrated with a customisable suite of application programming interfaces (APIs). Its real-time fractional share trading tool is awaiting a patent.
The partnership with Wealthface is the latest in a series of relationships DriveWealth has signed across Nigeria, India, and Brazil, as well as a deal with Revolut in Europe.
“This partnership is a great opportunity to establish our first presence in this important region, and we’re delighted to continue on our geographic expansion,” says DriveWealth CEO Robert Cortright.