Saxo, a multi-asset trading and investment firm, has partnered with novobanco, a Portuguese bank, to provide novobanco clients with access to Saxo’s advanced . This partnership aims to offer a fully digital investment experience to Portuguese investors.

New Platform Expands Investment Opportunities

Under this agreement, novobanco will integrate Saxo's platform, allowing its clients to explore a broader range of investment opportunities. The move aligns with the increasing digitalization of financial services in Portugal, where more investors are seeking digital platforms that provide diverse investment options.

“As a bank fully focused on the customer and their needs, we believe that this partnership is an enabler of the Wealth Management journey we have embarked upon by allowing both a democratization and a digitalization of the investment experience,” Elisabete Pinto Pereira, Director of Investment and Protection, novobanco, said.

Finance Magnates previously reported that Saxo Bank A/S is closing its Hong Kong office, citing changes in the business environment as the reason. The company also announced the closure of its Shanghai office. However, Saxo emphasized that it will continue to operate in the Asia-Pacific region from its Singapore base.

In a statement, Saxo described the decision as “difficult but necessary” and confirmed that it has ceased accepting new clients. The company emphasized that its primary focus is on managing a “smooth offboarding process” for impacted clients and partners.