easypaisa, KTrade join hands to enable instant PSX account opening

easypaisa digital bank and KTrade have partnered to let users open a PSX investment account within 10 minutes through the easypaisa app, Mettis Global reported. The tie-up was unveiled at a ceremony in Islamabad last week, with officials from the SECP, NCCPL and CDC in attendance. According to the report, the process removes paperwork that has long held back ordinary investors.

The partners reported that their first day recorded the largest single-day count of investment account openings in the history of the PSX. KTrade's chief executive, Mahmood Ali Shah Bukhari, argued that easier access would draw large numbers of people into the market. Jahanzeb Khan, the president and CEO of easypaisa, described the deal as a further step toward a more inclusive country.

The partnership fits wider national goals of broadening retail investor involvement, according to Mettis Global. easypaisa, which has more than 60 million registered users, began commercial operations as the first digital bank in Pakistan. It also keeps broadening its offerings for existing users and people who are unbanked or underbanked.