Waton Financial is a small Hong Kong-based financial services firm operating through two core subsidiaries: Waton Securities International (WSI), a licensed securities broker, and Waton Technology International (WTI), a fintech software business. WSI, founded in 1989, lets corporate and individual customers trade equities, derivatives, bonds, and funds listed on the Hong Kong Stock Exchange, NYSE, and Nasdaq via a mobile app. WSI also offers margin financing at 8–10% per annum and acts as a placement agent for bond distribution. WSI and WTI also license a customizable trading platform app covering front-, middle-, and back-office brokerage functions to other small and medium-sized securities brokers, with an option to bundle WSI's clearing and settlement services into an end-to-end solution called "Broker Cloud." Revenue comes from four main lines: brokerage commissions, bond distribution commissions, software licensing and support fees, and margin financing interest. A defining feature of Waton Financial's business is its heavy reliance on a single related-party customer, Wealth Guardian Investment Limited (WGI), a New Zealand brokerage affiliated with Waton Financial's controlling shareholders, which accounted for 64% of FY25 revenue. Waton Financial's stated growth priorities include expanding its software licensing customer base globally, an early-stage asset management business, virtual asset brokerage introductions, and an AI initiative focused on converting trading expertise into AI agents marketable on a subscription basis.