Paytm’s wealth management subsidiary Paytm Money has gone live with its stockbroking service for all customers. The service had been running on beta mode since July and was only accessible to select Android users.
The company aims to register 1 mn new retail investors on the platform by close of the ongoing fiscal year in March 2021, according to Varun Sridhar, the newly appointed CEO of Paytm Money, leveraging on the demand for equity trading among first-time users.
According to a statement shared by Paytm with ET, the platform’s early access version saw 220,000 users registering on Paytm Money for retail stockbroking. The platform also allows customers to invest in mutual funds and pension schemes.