Logo 22 Feb 2022

Bye-byte brokerage app

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On Monday, Bytedance sold its internet brokerage app Haitun Stock to Chinalin Securities for RMB 20 million. Why the offload? Prior to the sale, Bytedance had failed to obtain a securities brokerage license.

Without the license, the Haitun Stock app was crippled. It couldn’t include ...