JBSV also has a plan to raise its ownership stake to approximately 5 per cent depending on the performance of the collaboration with Infina.

Hanoi-based JBSV, a foreign affiliate of JB Financial Group, specialises in investments, stock trading, brokerage, and the issue of corporate bonds. It launched the Finavi online brokerage platform in September last year, foraying into the brokerage and margin lending industry. JBSV also intends to grow its client base by strategically partnering with fintech firms in Vietnam.

Meanwhile, Infina is an asset management service provider in Vietnam with about 1.3 million customers and 500,000 monthly active users. Founded in 2018, Infina has lured investments from the world’s biggest venture capital funds including Y Combinator and Sequoia.

"In the Vietnamese stock market, which has great potential for growth, collaborating with various local partners such as fintech companies is a desirable way to expand our customer base," said JBSV CEO Kim Doo-yoon. "We plan to build a win-win ecosystem with fintech companies through close cooperation with Infina."

"Infina is a fintech platform whose mission is to collaborate with financial companies that can be trusted by their customers, and we chose to partner with JB Financial Groupy because of its high financial and technological level and strengths in fast decision-making," said Infina CEO James Vuong. "This partnership will be a great opportunity for JB Financial Group to expand its business in Vietnam and overseas."