Paytm Money gets SEBI Approval to Start Stock Broking Services

Paytm Money gets SEBI Approval to Start Stock Broking Services:

Paytm Money, the investment and wealth management arm of mobile payment platform Paytm, has received approval from securities and capital markets regulator Sebi (Securities & Exchange Board of India) to start stock broking services.

The company also said it had received the broker membership of exchanges BSE and National Stock Exchange, did not provide a timeline for starting such services

In an official blog, the company wrote,

“We will be introducing new capabilities and offerings on our platform, such as trading in equities & cash segments, derivatives, and exchange-traded products.”

With this, we are moving closer to becoming a full-stack wealth management platform as we had set out, and inline with our vision & mission to bring wealth creation opportunities to millions of Indians.Our efforts will continue towards providing our users the simplest, most transparent and best investment experience in India.

• We are now starting with our integrations with both exchanges, depository and building our platform to offer you more investing & trading products.
• Ramping up our engineering, product & design teams to ensure we build the offer the most reliable investing platform to cater to millions of Indians.
• Also setting up our teams for market operations in Trade, Settlement, Depositories, Risk, Finance, Treasury and others. (PS: We’re hiring)

The entry of players such as Paytm will intensify the pricing battle in the retail broking space and squeeze margins further.

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