Sampath Bank PLC has entered into a Memorandum of Understanding (MoU) with Ustocktrade LK (Private) Ltd (ULPL) to enable investors pay conveniently when trading in securities listed on stock exchanges across the United States of America (USA) through the Ustocktrade app.
Under this agreement, Sampath Bank Personal Foreign Currency (PFC) account holders will soon be able to link their account to the Ustocktrade app and use it to pay for all the trades they make using the app. Team Sampath had worked on the integration of the Bank’s services into the trading platform.
Thus, Sampath Bank will be creating history once again, becoming the first bank in Sri Lanka to allow account holders to directly use the funds in their accounts to trade in foreign securities. This adds to the appeal of the Ustocktrade app which eliminates the need for stock brokers to trade in US securities, making such investments more affordable.
ULPL is the locally registered company of Ustocktrade Securities, Inc., a company duly incorporated in USA. The Ustocktrade app is the first ever mobile based foreign securities investment solution to have been introduced to Sri Lanka.