
KTrade, in partnership with JazzCash, on Monday launched embedded stock trading feature to encourage more than 20 million users to invest directly in Pakistan's capital markets.
Currently, approximately 400,000 Pakistanis had direct access to stock market investing; however, with this newly launched feature the number will likely increase. This stock trading feature allows JazzCash app users to purchase and sell stocks, exchange-traded funds (ETFs), and bonds listed on the Pakistan Stock Exchange (PSX) using their accounts.
At the launch, KTrade Chairman Ali Farid Khwaja said: "KTrade was launched with the mission to bring [one] million people to invest in stocks listed on Pakistan Stock Exchange. Most people thought it was impossible.”
“This collaboration with JazzCash takes us close to achieving and even exceeding that goal. JazzCash has already proven its impact in other areas of finance such as mobile wallets, and insurance sector. We are delighted and honoured to collaborate with the visionary leadership of JazzCash and look forward to working with them to develop Pakistan’s nascent capital markets,” added Khwaja.
KTrade's new platform paves way for JazzCash to achieve 20 million verified accounts target, especially for companies planning initial public offering (IPO) or fundraising. This move aims to expand retail participation in IPOs and capital markets.
As part of this initiative, JazzCash users will also benefit from personalised market alerts and stock recommendations, keeping them informed regarding stock price changes and market trends in Pakistan.