Fintech PR

UP Fintech Holding Limited Posts 136% Revenue Growth in 2020

Published

4 years ago

March 26, 2021

UP Fintech Holding Limited (the “Company”, a NASDAQ-listed company under the ticker “TIGR”, and all of its subsidiaries and consolidated entities), a leading online brokerage firm focusing on global investors, posted its first full-year profit and laid out plans for further international expansion over the coming years after gaining popularity in Singapore.

Fourth quarter revenue rose 136.5% to US$47.2 million, compared with revenue of US$20.0 million in same quarter of 2019. UP Fintech generated US$10.3 million in Non-GAAP net income in the fourth quarter, approximately 29 times higher than the US$0.3 million the company reported in the same quarter of last year. For the full year, the company reported revenues of US$138.5 million, US$77.6 million of which was commission revenue. Commission revenue was bolstered by an increase in the firm’s user base and trading activity. Non-GAAP Net income for the year came in at US$22.3 million, compared with a loss of US$1.8 million in 2019.

Total account balance increased by US$5 billion in the fourth quarter and reached US$16.0 billion, an increase of 215.9% since the end of 2019. The firm added 44,000 funded accounts in the fourth quarter, 3.9 times the number of new funded accounts in the same quarter of last year; the total number of funded accounts more than doubled in 2020.

“We again recorded significant increases in client accounts and assets, supported by strong demand for online financial services and increased trading activities in the equity market,” stated Mr. Wu Tianhua, CEO of UP Fintech. “With a diverse set of licenses, our internationalization strategy continues to progress nicely and is now a new driver for our growth. During the quarter we participated in eight IPOs, of which we underwrote three. For the full year we participated in 26 U.S. IPOs of Chinese-based companies and served as an underwriter in 14 of them. Our leadership position in underwriting for Chinese ADR issuers in the U.S. continued to yield significant benefits as it led to more IPO subscriptions being available to our retail clients. We also added 35 ESOP clients in the fourth quarter for a cumulative total of 124 clients. Despite having only started our ESOP business two years ago, we have been able to gain substantial market share due to the enhanced user experience of our system.”

The company’s flagship trading app, Tiger Trade, has formed a closed-loop platform for trading, social networking, and financial media. By adding more investment tools and products such as grey market for Hong Kong IPOs, the firm continues to boost its brand recognition and retail client stickiness.

“We are enthusiastic about the year ahead as we will continue to leverage our technological capabilities to build an integrated trading platform for global clients with a comprehensive product offering,” Wu added.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other statements, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; trends and competition in global financial markets; the effects of the global COVID-19 pandemic; and governmental policies relating to the Company’s industry and general economic conditions in China and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

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Fintech PR

LTP expands in Europe, acquires Spanish crypto firm Turing Capital Brokerage

Published

4 minutes ago

March 20, 2025

CISION (PR Newswire)

ltp-expands-in-europe,-acquires-spanish-crypto-firm-turing-capital-brokerage

MADRID, March 20, 2025 /PRNewswire/ — LTP, a leading institutional prime brokerage specializing in digital asset markets, today announced the full acquisition of Turing Capital Brokerage (‘TCB’), a Spanish brokerage firm licensed by the Bank of Spain to operate as a Markets in Crypto-Assets (MiCA) licensed entity, which provides a regulatory framework for crypto-assets, issuers, and service providers across the European Union.

TCB is a subsidiary of Turing Capital, a digital assets investment firm founded by serial entrepreneurs and long-time crypto investors Jorge Schnura and Javier Garay. They, along with Leopoldo Moreno de la Cova Ybarra, founded TCB.

This strategic acquisition enables LTP to expand its presence to the European market while offering fully compliant digital asset brokerage services under the MiCA framework. With TCB’s established regulatory standing and deep understanding of the European digital asset ecosystem, LTP aims to expand its service offerings, providing institutional clients with seamless, regulated access to crypto markets.

For TCB, now renamed as Liquidity Technology S.L (“LTP Spain”), the acquisition presents an opportunity to leverage LTP’s advanced technology infrastructure, deep liquidity network, and global client base. The collaboration will allow LTP Spain to scale its operations, improve execution efficiency, and broaden its service capabilities to institutional clients across Europe and beyond.

As part of the acquisition, Leopoldo Moreno de la Cova Ybarra, will assume the role of Head of LTP Spain. His leadership and deep knowledge of the European digital asset market will be instrumental in driving LTP Spain’s expansion in the region. Jorge Schnura will continue to advise LTP Spain.

The partnership seeks to bridge the gap between traditional finance and digital assets, fostering innovation while ensuring compliance with the latest European regulatory standards. By integrating LTP Spain’s local expertise with LTP’s global infrastructure, the two firms aim to create a more secure, transparent, and efficient trading environment for institutional investors.

“This acquisition marks a significant step in our mission to provide regulated, institutional-grade digital asset services on a global scale. With LTP Spain’s MiCA-compliant adaptability and deep-rooted expertise in the European market, we are poised to deliver unparalleled access and liquidity to our institutional clients”, said Jack Yang, Founder and CEO of LTP.

The acquisition underscores LTP’s commitment to regulatory compliance and innovation in the evolving digital asset landscape, reinforcing its position as a trusted prime brokerage partner for institutions navigating the complexities of digital finance.

Photo – https://mma.prnewswire.com/media/2645519/LTP_expands_in_Europe__acquires_Spanish_crypto_firm_Turing_Capital_Brokerage.jpg

View original content:https://www.prnewswire.co.uk/news-releases/ltp-expands-in-europe-acquires-spanish-crypto-firm-turing-capital-brokerage-302406910.html

Fintech PR

China, An Opportunity Through Opening Up: How Foreigners Thrive in Chongqing’s Growth

Published

4 minutes ago

March 20, 2025

CISION (PR Newswire)

china,-an-opportunity-through-opening-up:-how-foreigners-thrive-in-chongqing’s-growth

CHONGQING, China, March 20, 2025 /PRNewswire/ — A news report from iChongqing – To highlight China’s remarkable progress since its founding 75 years ago, the Western China International Communication Organization presents the series “China, An Opportunity Through Opening Up.”

This series follows the journeys of ten foreigners living in Chongqing as they share their unique life stories and perspectives in this vibrant city.

Nikolaos Chatzipetros from Greece, General Manager of Niccolo Chongqing , shares his insights on the development of Chongqing as an international metropolis from the perspective of the high-end hotel industry. Jorah Kai Wood, a Canadian teacher and writer, believes that vibrant China is a source of inspiration for literary creation.

Daiki Yamagami from Japan considers China a land of opportunity for entrepreneurship and business growth. Davide Liu, an Italian data scientist, says that the development of sports contributes to promoting a high-quality life in China.

Dr. Tseng Hsien Cho, the Associate Medical Director at Raffles Hospital Chongqing, was born in China’s Taiwan region and later became a Singaporean citizen. With deep historical ties to Chongqing, Tseng’s journey reflects a unique blend of personal and professional connections to the city.

Emily Hulme from USA is an English teacher, comedian, writer, and short filmmaker. Her diverse experiences in Chongqing not only enrich her life but also give her a sense of belonging and welcome. Franco Bergamino, the owner of an Italian dessert studio, views that promoting food culture fosters cross-national cultural exchange.

David Nicolas Derksen, a German architect, is fascinated by Chongqing’s unique fusion of culture and architecture. Elvira Maglalang, a Filipino English teacher, has become a pillar of support for the Filipino community in Chongqing, where she has lived since 2004.

Lastly, Frank Stonier, an American professor at Southwest University, has embraced the city as his “first hometown.” As a professor at the Faculty of Education and the Dean of the STEAM Interdisciplinary International Educational Research Center, he has profoundly impacted education and the local community.

Through their narratives, we explore how they have embraced the various opportunities brought by China’s modernization, contributing to and witnessing the country’s rapid growth and profound opening up to the world.

For more details, please check:
https://www.ichongqing.info/category/news/news-special/how-foreigners-thrive-in-chongqings-growth/

Photo – https://mma.prnewswire.com/media/2646160/20250320162410.jpg

View original content:https://www.prnewswire.co.uk/news-releases/china-an-opportunity-through-opening-up-how-foreigners-thrive-in-chongqings-growth-302406906.html

Fintech PR

Vantage Markets to Participate in iFX Expo LATAM 2025

Published

1 hour ago

March 20, 2025

CISION (PR Newswire)

vantage-markets-to-participate-in-ifx-expo-latam-2025

PORT VILA, Vanuatu, March 20, 2025 /PRNewswire/ — Vantage Markets announces its participation in iFX Expo LATAM 2025, a leading financial B2B expo, set to take place in Mexico City. As a multi-asset CFD broker, Vantage Markets will engage with industry professionals to discuss global market trends and technological innovations.

With LATAM’s rapidly growing forex and trading landscape, iFX Expo presents a valuable platform for Vantage to showcase its commitment to cutting-edge technology, transparency, and exceptional trading solutions that serve its clients and partners.

Vantage Markets have been at the forefront of financial technology and trading solutions, offering traders access to multi-asset CFD trading with a user-friendly, seamless experience. iFX Expo provides an opportunity to engage with the global financial community and highlight Vantage’s dedication to providing high-quality trading services.

Vantage is excited to showcase its advanced trading platforms, comprehensive educational resources, and powerful trading tools that cater to both its retail and institutional traders. By participating in this prestigious event, Vantage aims to support traders with industry-leading solutions and foster meaningful connections with industry professionals.

During iFX Expo LATAM 2025, Vantage will be represented by Alejandro Zelniker, Affiliates and Partners Business Strategist at Vantage Markets, who will engage with industry professionals to discuss global market trends and the future of the CFD trading industry.

Sharing his excitement about the event, Alejandro Zelniker stated:
“The iFX Expo is a significant event for professionals in the CFD trading industry. It brings together experts, brokers and technology providers to connect and share knowledge with each other. I’m excited to meet industry professionals and discuss global developments. While trading is a 100% digital business, I believe face-to-face interactions can add value to professional relationships. It’s also a fantastic opportunity to showcase Vantage’s technological innovations.”

As Vantage continues to develop its operations, the company focuses on providing educational resources and trading tools that meet evolving trader needs across various markets. iFX Expo LATAM 2025 serves as a platform for networking and knowledge exchange among industry professionals, allowing Vantage to gain insights into global market developments.

Vantage looks forward to sharing insights on global trading trends at iFX Expo LATAM. Visitors to the Vantage Markets booth can expect to learn about the company’s range of CFD products and services, trading platforms and tools.

Join Vantage at iFX Expo LATAM 2025! Industry professionals are welcome to visit the Vantage booth at iFX Expo LATAM 2025 to discuss global trading technology trends and connect with representatives.

For more details about Vantage’s participation in the event, visit Vantage Markets.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice, an offer, or solicitation of any financial products or services. The content is not intended for residents of any jurisdiction where such distribution or use would be contrary to local law or regulation. Readers are advised to seek independent professional advice before making any investment or financial decisions. Any reliance you place on the information presented is strictly at your own risk.