Trust Bank to launch platform for trading in US stocks, ETFs

It's the first S'pore digital bank to offer the service, with fractional trading options

- Chor Khieng Yuit Senior Business Correspondent

Trust Bank will launch a platform for its customers to trade US stocks and exchange-traded funds (ETFs), becoming the first Singapore digital bank to offer the service.

The trading platform, which sits within the TrustInvest offering, will be open to those with a Trust savings account.

Customers can sign up from Oct 15 and will be invited to open a trading account over the coming weeks.

Trust joins other overseas digital banks, such as South Korea's KakaoBank and the UK's Revolut, in offering a trading service on its app.

The digital bank has a full bank licence and regulatory permission to deal in brokerage activities.

It is working with a third-party broker to access the US markets, and will share more details about its partner in the coming months.

Mr Dwaipayan Sadhu, the digital bank's chief executive, said this trading platform widens the options for customers to a broader range of investment opportunities, which will now include US stocks and ETFs.

The ETFs could track an underlying stock index or industry sector, or digital assets, Trust said in its statement.

TrustInvest, its investment solution, already offers five funds managed by Aberdeen Investments.