DGB Financial Group Acquires Fintech Company Newzstock... Incorporates 10th Subsidiary

[Asia Economy Reporter Kim Hyo-jin] DGB Financial Group announced on the 13th that it has acquired a 74.03% stake in the fintech company Newzistock, incorporating it as the group's 10th subsidiary.

This acquisition is part of DGB Financial Group's strategy to accelerate digital innovation, continuously pursue digital transformation, and strengthen capital markets. It is also the first case of a domestic financial group acquiring a fintech company.

Newzistock was established in 2011 with the value of "creating an environment where individual investors can also make profits." It currently has over 100,000 customers and partners with 12 major securities firms, making it the number one algorithmic stock investment platform company in Korea.

The flagship service is "Zenport," which allows ordinary people to easily engage in quantitative investing (data-driven strategic investing), traditionally the domain of a few experts. Through the Zenport service, investors can easily and quickly create and verify their own investment algorithms and manage actual assets based on them. It enables a kind of bespoke stock investment optimized for each individual's investment strategy.

Investors can upload their investment algorithms to the market for sale or purchase verified algorithms from other investors, and receive educational content about algorithms from experts.

Currently, the number of investment algorithms accumulated on the Newzistock platform reaches 2.6 million, with about 5,000 new algorithms generated daily. The assets under management (AUM) traded based entirely on Zenport algorithms amount to 140 billion KRW, and the monthly stock trading volume is 1.1 trillion KRW, showing rapid growth.

DGB Financial Group plans to actively support the expansion of Newzistock's service scope beyond the domestic market to global stock markets such as the United States and China. Additionally, it intends to create mutual synergy by linking with group affiliates to provide customers with algorithmic stock investment experiences and introduce various collaborative products.

Kim Tae-oh, Chairman of DGB Financial Group, stated, "Through the acquisition of Newzistock, we expect to significantly upgrade the group's digital asset management competitiveness and contribute to the revitalization of the fintech industry. We will actively support Newzistock to grow as an independent brand even after its incorporation into the group."

This content was produced with the assistance of AI translation services.