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<a href="https://investbamboo.com/" target="_blank" rel="noreferrer noopener">Bamboo</a>, an investment platform that allows Africans to buy and trade US stocks in real-time from their mobile phones and computers, has acquired a U.S. broker-dealer license through its affiliate, Bamboo Securities L.L.C. The development has made the Nigerian fintech the first financial organization from the country to achieve such a feat. 
Announcing the development on its <a href="https://x.com/investbamboo/status/1868915087182118924" target="_blank" rel="noreferrer noopener">X post</a>, the fintech company expressed that with the license, corporate clients and licensed brokers can now have access to the US stock market. 
“Licensed brokers across Africa can now provide their clients access to the U.S stock market. Corporate clients and retail customers can also enjoy seamless US market access,” the company said. 
What this means is that the acquisition of the license opens the door for Bamboo to collaborate with licensed broker-dealers across Africa. It also extends its B2B offerings to businesses aiming to offer U.S. investment opportunities to their users. 
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 Bamboo Inc. announcement on X
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Bamboo Securities LLC, the leading digital investment and brokerage company now possesses the authority to provide access to U.S. securities for African investors. This further fuels Bamboo’s mission to enable investments from anywhere and in any way. 
“The license makes it even easier for Africans to invest in U.S securities,” the company added. 
Also in an email announcement, Bamboo expressed its delight at the milestone and what it means for its pursuit. “This is a massive win for us, and it’s all thanks to the trust you’ve placed in us over the last five years,” the company expressed. 
A Nigerian-based fintech company, Bamboo operates as a digital investment platform that provides real-time access for Africans to buy, hold, or sell stocks, exchange-traded funds (ETFs), and American depositary receipts (ADRs) in the United States. It also allows those across the socioeconomic bracket to buy and trade global stocks on its app. 
<h4 id="bamboos-continued-strength" class="wp-block-heading">Bamboo’s continued strength</h4> 
Launched in January 2019 by Chief Executive Officer (CEO) <a target="_blank" href="https://www.linkedin.com/in/richmondbassey/?originalSubdomain=ng" rel="noreferrer noopener">Richmond Bassey</a> and Chief Operating Officer (COO) <a target="_blank" href="https://www.linkedin.com/in/yanmoomorogbe/?originalSubdomain=ng" rel="noreferrer noopener">Yanmo Omorogbe</a>, Bamboo has rapidly grown in popularity with retail investors, claiming over 300,000 accounts in Nigeria and across Africa. Its users can access all equities available on the Nigerian and US stock exchanges, that is, the stocks of roughly 6,000 companies. 
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 <img loading="lazy" decoding="async" width="800" height="450" src="https://technext24.com/wp-content/uploads/2024/10/CoinsbyBamboo-App-Launch-Announcement-Image.jpg" alt="Bamboo diversifies into remittances, launches Coins by Bamboo to crash remittance cost" class="wp-image-238638">
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Considering how stressful it can be to navigate investing in foreign stocks, Bamboo has come into the limelight by helping Africans trade money easily and earn foreign currencies by investing in foreign stocks.&nbsp; 
Securing a U.S. broker-dealer license is part of its commitment to its users. This achievement further underscores its mission to empower Africans to invest in global markets and create opportunities for individuals and companies in Africa. 
The fintech company cited that Africa’s wealth management market remains highly underdeveloped but holds high potential. This is evident as Africans only account for over 16% of the world’s population, yet they own less than 1% of global wealth. 
With the likes of Bamboo, this is expected to change over the next decade as private wealth in the continent has been projected to increase by 30% to reach $2.6 trillion by 2030, according to AfrAsia Bank. 
“We think investing in stocks has a bright future in Nigeria. Nigerians are hungry to earn a return on their investments and build wealth. We are bullish on platforms such as ours in bringing more Nigerians into the world of investing,” Richmond said in a 2022 interview. 
In light of that, Bamboo recently launched its remittance app, “<a target="_blank" href="http://coins.investbamboo.com/" rel="noreferrer noopener">Coins by Bamboo</a>” which marked its diversification from its primary investments business into remittances. According to the company, the initiative spurred from its values that revolve around providing an opportunity for Africans to participate in the global investment economy. 
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The app enables Nigerians in the diaspora to make faster, more secure, and cheaper money transfers to loved ones from the convenience of their mobile phones. The business is also backed by the Canadian Money Service Business license which the company has secured. 
The Coins by Bamboo app gives Africans the ability to invest in anything from anywhere. The company said this further reflects its commitment to democratizing wealth building and facilitating meaningful investments in local communities as well as Africa’s future. 
Read More: <a target="_blank" href="https://technext24.com/2024/10/31/bamboo-diversifies-into-remittances-coin/" rel="noreferrer noopener">Bamboo diversifies into remittances, launches Coins by Bamboo to crash remittance cost.</a>

Bamboo secures U.S. license to provide Africans with easy access to U.S. securities

Technext.ng

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