Operator of South Korea's Toss app to buy online Japanese brokerage Cheer

What happened: Viva Republica, the South Korean fintech company behind the Toss app, is poised to acquire a smartphone-based brokerage subsidiary of Japan's Tokai Tokyo Financial Holdings. Why it matters: The company is looking to capitalize on growing interest in investing among young Japanese consumers and expand its reach in mobile-first retail investing.

Viva Republica, the South Korean fintech company behind the Toss app, is poised to acquire a smartphone-based brokerage subsidiary of Japan's Tokai Tokyo Financial Holdings.

The company is looking to capitalize on growing interest in investing among young Japanese consumers and expand its reach in mobile-first retail investing.