Alibaba-backed Paytm gets SEBI nod for broking

Alibaba-backed Paytm has now received an approval from market regulator SEBI to become a stock broker. Paytm will be the first brokerage house in India to be backed by a Chinese company, the regulatory officials told BusinessLine.

Additionally, Paytm Money has also signed a partnership with the BSE and the NSE. 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.”

Paytm Money currently offers its users mutual fund investments. The company claims to have 30 crore registered users for its wallet or money transfer service. It may offer trading in shares mainly through mobile app, sources said.