Fintech
Futu Holdings Limited Q4 Financial Results: 2021 Revenues Up 114.9% YoY With 17 Million Users Worldwide
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform that provides investment services through its proprietary digital platforms Futubull and moomoo, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
The financial results show that Futu secured a solid performance in the fourth quarter, with a revenue of US$205.5 million and a Non-GAAP adjusted net income of US$68.4 million.
Revenues continued to grow, with brokerage commission and handling charge income up 19.3% to US$109.9 million, interest income up 83.3% to US$79.2 million, and other income (including wealth management and corporate services) slightly down 2.2% to US$16.4 million on a year-over-year basis.
As of year end, Futu revenues totaled US$912.3 million, up 114.9% year-over-year, and Non-GAAP adjusted net income was US$373.0 million, up 113.3% year-over-year.
As of quarter end, users of Futu’s two proprietary digital platforms, moomoo and Futubull, exceeded 17.40 million, up 45.8% year-over-year. They cover more than 200 countries and regions worldwide; the number of registered clients grew to 2.75 million, up 93.8% year-over-year; the number of paying clients reached 1.24 million, up 140.8% year-over-year. The company also maintained a high quarterly client retention rate of 97%.
What is noteworthy is that Futu exceeded its full-year paying client guidance by adding approximately 728,000 paying clients in 2021. In the fourth quarter, around 90% of new paying clients came from Hong Kong SAR, the US and Singapore. Quarter-end client assets reached US$52.3 billion, up 43.0% year-over-year.
In addition, Futu’s total trading volume was US$157.2 billion in the fourth quarter and US$787 billion for the full year, approximately 1.77 times the 2020 volume. Daily Average Revenue Trades (“DARTs”) reached 543,806, up 17.6% year-over-year.
HK Paying Clients Increased by Over 100% YoY for 7 Consecutive Quarters
Having established itself in Hong Kong, Futu is a tech-driven digital fintech company that delivers unparalleled investing services through its proprietary digital platforms, Futubull and moomoo to investors worldwide.
In Hong Kong, Futu continued to reinforce its position as the leading retail brokerage with a robust increase in market share recent years. In the fourth quarter, the number of paying clients in Hong Kong grew by 108.7% year-over-year, achieving triple-digit growth for the seventh consecutive quarter. Futu is not only popular among young investors, but also gradually gains traction among mature investors, making it the top-of-mind platform trusted by investors of all ages in Hong Kong. Among paying clients in Hong Kong, those aged 40 or above accounted for more than 30%.
Futubull Community stays the second-largest social investing community in Hong Kong in terms of active users and UGC content, leading the social investment trend. Based on trading day data in 2021, an average Hong Kong user spent as long as 38.4 minutes on the Futubull app. On an average trading day, there were 368,000 active Hong Kong users in the online Community, and 120,000 pieces of UGC content were produced.
moomoo Gained Market Share Steadily in the US and Singapore
In the fourth quarter, moomoo further increased its visibility in markets such as the US and Singapore, and won wide recognition among investors with its unique user experience and excellent customer service.
In the US, moomoo has become a popular tech-driven brokerage platform for local investors, with the number of users soaring and its local market share gradually expanding. In the fourth quarter, moomoo won the “2021 Best Active Trading App” award by Investing Simple, and was also named the “2021 Best for Active Traders” by Benzinga, a well-known US financial website.
In Singapore, moomoo’s market share grew to record high. According to Population Pyramid’s Population of Singapore 2021 data, the number of moomoo users in Singapore as of the fourth quarter has accounted for 1/10 of Singapore’s adult population over the age of 20. moomoo further penetrated among high-income and well-educated people in Singapore, and the asset management scale under Futu in Singapore increased by 25.7% quarter-over-quarter.
moomoo has been committed to helping investors enrich their investment knowledge since its inception. As of the fourth quarter, more than 300 investing videos and infographic courses have been launched on the moomoo App and website, covering stocks, options, funds, and other financial instruments in catering diversified learning objectives.
At present, moomoo has become the pioneer in promoting financial literacy in Singapore, and has established cooperation with more than 30 local financial institutions, unicorn companies, and universities to jointly enhance public awareness of gaining financial and investing knowledge. In the fourth quarter, moomoo joined hands with the Singapore Exchange, SAFRA, Nasdaq, etc., to hold online seminars in encouraging new generation to pick up financial management knowledge and skills.
In the United States, moomoo also cooperated with the financial website Finder.com to roll out stock trading tutorial videos and articles to preparing beginners to advanced level, which has won wide praise from American users.
With Australian Financial Services Licence Acquired, Futu Now Holds 44 Licences Worldwide
In the fourth quarter, Futu announced that it had successfully acquired an Australian-based company, Futu Securities (Australia) Ltd. Futu Securities (Australia) Ltd holds an Australian Financial Services License (“AFSL”). The AFSL is a license granted and regulated by the Australian Securities and Investments Commission (ASIC) and with AFSL, Futu Securities (Australia) Ltd is now qualified to provide one-stop online brokerage services to local investors. Australia is the third international market that moomoo enters after the US and Singapore.
As of quarter end, Futu and its subsidiaries hold 44 licenses in the US, Hong Kong SAR, Singapore, Australia, and Europe markets.
Fund investors Increased by 231% Year-over-Year
In the fourth quarter, Futu’s another promising business, wealth management, maintained a rapid growth trend and the asset under management reached HK$18.8 billion (approximately US$2.41 billion), a year-over-year increase of 83.5%. The penetration rate of investors who currently hold fund units and investors who have subscribed to funds both achieved new records. As of quarter-end, the number of investors who hold fund units was 140,000, a year-over-year increase of 231.0%.
In the fourth quarter, AUM of private investment funds in Q4 continued to expand by 621.0% year-over-year and by 120.3% on a quarter-over-quarter basis.
Since its launch, Futu’s wealth management brand Money Plus has always adhered to highly quantitative fund selection methodology, continued to establish and strengthen cooperation with world-renowned financial institutions, and provided diverse and high-quality fund products for global clients. As of quarter end, 60 prestigious financial institutions have partnered with Futu Money Plus, of which 4 were newly onboared in the fourth quarter, including Fidelity International, AXA Investment Managers, and Natixis Investment Managers.
In the Singapore market, Futu has won the favor of numerous investors with a series of selected fund products and customized services. As of quarter end, Futu Singapore Pte. Ltd. (“Futu Singapor”) has entered partnerships with 20 world-class financial institutions, and fund AUM and the number of fund investors have increased by more than 400% quarter-over-quarter.
IPO Distributions and IR Service Corporate Clients Up 125% Year-over-Year
As a well-versed industry player in providing enterprise services such as IPO distribution, IR and PR services, and one-stop ESOP equity incentive programs through its corporate business brand Futu I&E, Futu has become the go-to choice for numerous companies worth over HK$100 billion.
As of quarter end, Futu had provided IPO distribution and IR services for 236 companies, a year-over-year increase of 124.8%. In the fourth quarter, Futu participated in a number of sought-after Hong Kong IPOs such as SenseTime, SF Intra-City, ANE Inc., and MicroPort MedBot. Among the newly listed companies in Hong Kong in 2021, all of which with a market cap of over HK$100 billion chose to cooperate with Futu I&E. Futu I&E IPO and IR service execution excellence was recognized by more and more industry leaders, with its brand and reputation further sustained.
Also, Futu’s IPO distribution business in Singapore made new progress. Futu Singapore was entrusted by Nikko Asset Management and served as one of its participating dealers for the listing of NikkoAM- StraitsTrading MSCI China Electric Vehicles And Future Mobility ETF on the Singapore Exchange. The ETF subscription amount via Futu Singapore ranked the first among retail brokers.
As of quarter end, Futu Enterprise Services had served 400 ESOP clients, a year-over-year increase of 151.6%. Clients include industry leaders in consumption, healthcare, cutting-edge technologies, TMT, and other sectors, such as HEYTEA, Zihaiguo, AInnovation, Advanced Manufacturing EDA and HuiGene Therapeutics.
Drawing upon more than 17 million individual investors and an active community ecology, Futu has successfully attracted over 800 companies to open an enterprise page. Among them, well-known public companies such as Hang Lung Properties, MicroPort Medbot, Xinyi Solar Holdings, China Feihe joined in the fourth quarter. Through the moomoo and Futubull communities, Futu has built a bridge of communications between listed companies and individual investors, promoting mutual understanding and positive interactions between the two sides.
Fintech
Fintech Pulse: Today’s Key Industry Developments, Appointments, and Regulatory Challenges
The Changing Landscape of Global Fintech
The financial technology (fintech) industry continues to evolve at a rapid pace, making headlines worldwide. Today’s briefing dives into transformative moves and strategic shifts within fintech companies across diverse geographies. From innovative alliances to prominent executive appointments and ambitious expansions into banking, the industry is positioning itself for a future that intertwines financial inclusivity, regulatory compliance, and customer-centric technology. Let’s unpack these developments.
XTransfer’s Hong Kong Fintech Week Entry: Scaling Financial Access in China
XTransfer, a Shanghai-based cross-border financial services firm, has joined the Hong Kong Fintech Week to showcase its solutions, marking a significant milestone in its journey to bridge financial gaps for small and medium-sized enterprises (SMEs) in China. Founded in 2017, XTransfer addresses common barriers faced by Chinese SMEs in accessing international financial networks due to regulatory complexities. The firm’s platform facilitates smoother cross-border transactions by helping businesses navigate regulatory and compliance challenges seamlessly.
The strategic choice to participate in Hong Kong Fintech Week highlights XTransfer’s commitment to strengthening connections within the Asian financial hub. The firm seeks to tap into the region’s wealth of potential clients and partners, as Hong Kong continues to be a pivotal gateway for businesses engaging in cross-border trade with China. The move is also symbolic of the broader fintech community’s push to create inclusive and accessible financial networks, even amid evolving regulatory landscapes.
Source: XTransfer Joins Hong Kong Fintech Week to Expand Global Presence (Yahoo Finance)
Propelld’s New Chief Business Officer: Driving Growth and Product Innovation
Propelld, an Indian ed-finance company, recently appointed Manoj Shetty as its new Chief Business Officer (CBO), signaling a strong commitment to enhancing its market penetration and product offerings. Known for his extensive experience in fintech, particularly in business development and scaling, Shetty is expected to spearhead Propelld’s ambitions to bring tailored financing solutions to India’s education sector.
Propelld focuses on providing student loans and education financing to underserved sections of India, leveraging advanced data analytics to assess borrowers’ potential rather than conventional credit scores. Shetty’s addition to the leadership team suggests that Propelld aims to double down on its innovative data-driven model to better serve the unique financial needs within education.
As the industry grows more competitive, having a seasoned executive like Shetty could be instrumental for Propelld to fortify its unique value proposition. His track record indicates a capacity for handling the nuanced needs of financial services catering to niche markets, and he may well position Propelld to scale sustainably in the expanding ed-finance space.
Source: Propelld Names Manoj Shetty as Chief Business Officer (IBS Intelligence)
Solo Funds Faces Legal Hurdles: The Class-Action Lawsuit Dilemma
In a move that could impact peer-to-peer lending’s regulatory path, Solo Funds faces a class-action lawsuit, alleging that the company’s lending practices breached consumer protection laws. As a platform designed to offer emergency loans to consumers facing cash flow issues, Solo Funds charges “tips” rather than conventional interest rates, a tactic intended to circumvent traditional lending regulations. However, plaintiffs argue that these tips effectively function as disguised interest, making Solo Funds’ practices deceptive and exploitative.
This lawsuit is a critical test for the burgeoning peer-to-peer lending segment, which has grown immensely in recent years as consumers seek alternatives to traditional financial institutions. The outcome may force similar platforms to reassess how they balance operational flexibility with regulatory compliance, potentially reshaping the industry’s approach to short-term lending.
With growing scrutiny on fintech lending platforms, the legal proceedings could also open a wider debate on how fintech firms should transparently operate within the bounds of financial laws. If Solo Funds is found liable, it may prompt stricter regulatory frameworks, affecting peer-to-peer platforms that rely on nontraditional models to attract users.
Source: Lending Fintech Solo Funds Faces Class-Action Lawsuit (TechCrunch)
Slice’s Transformation: A Fintech Company’s Foray into Traditional Banking
India-based Slice, originally a credit-based fintech, has announced its transition into a full-fledged bank, allowing it to offer conventional banking services in addition to its credit solutions. By securing regulatory approval to operate as a bank, Slice aims to expand its product range and deepen its relationship with a fast-growing consumer base in India. This move exemplifies a larger trend of fintech firms seeking to bridge the gap between traditional banking and innovative financial services.
Slice’s venture into banking will also set an intriguing precedent for other fintech companies in India and beyond. The company has successfully carved a niche among young users with its simple, digital credit products. As a bank, it can now offer savings accounts, lending products, and other services, thus creating a one-stop platform that could enhance customer retention and lifetime value.
The expansion to full banking status raises questions about how effectively Slice will manage its dual roles as a fintech innovator and a traditional bank, especially in a market as large and complex as India’s. It also marks a pivot point in the narrative of fintech companies morphing into full-service financial institutions, a trend that is gaining traction globally.
Source: India Fintech Slice Expands to Become a Bank (TechCrunch)
FullCircl’s 2025 Identity Verification Report: Insights into Compliance Challenges
FullCircl, a leading regulatory technology provider, recently released its “2025 State of Identity Verification” report, shedding light on the evolving landscape of identity verification and the challenges businesses face in maintaining compliance. As financial crimes become more sophisticated, firms increasingly invest in identity verification tools to stay ahead. According to the report, over 75% of financial institutions rank identity verification as a critical priority, citing the surge in fraudulent activities as a prime concern.
The report also highlights an industry-wide push towards digital identity systems and the use of artificial intelligence in detecting fraud patterns. As regulatory demands tighten and compliance risks rise, firms are urged to adapt swiftly. FullCircl’s findings underscore a need for seamless, real-time verification solutions that do not compromise customer experience—a delicate balance to maintain as identity verification protocols become more stringent.
The insights from FullCircl’s report reveal a heightened industry focus on ensuring robust identity frameworks that foster trust without hindering the ease of digital transactions. This growing demand aligns with broader trends where digital trust is crucial in retaining customers and enhancing their satisfaction.
Source: FullCircl Releases 2025 State of Identity Verification Report (PR Newswire)
The post Fintech Pulse: Today’s Key Industry Developments, Appointments, and Regulatory Challenges appeared first on HIPTHER Alerts.
Fintech
Xsolla significantly expands payment solutions in Cambodia and Indonesia to maximize game developers’ reach
Xsolla, a global video game commerce company, is pleased to announce the expansion of its payment solutions in Cambodia and Indonesia, providing access to localized payment methods tailored to each region. This initiative aligns with Xsolla’s broader strategy to strengthen its presence across Southeast Asia (SEA) and support game developers in effectively monetizing and distributing their games in these rapidly growing markets.
In Cambodia, Xsolla introduces eight new payment methods, including Internet banking options and digital wallets, tailored to the preferences of Cambodian users. This strategic expansion covers up to 90% of the payments market, ensuring that nearly every player in Cambodia can pay using their preferred method. For example, Bakong KHQR, a QR code-based payment system, holds 45% of the market share, while Acleda Bank accounts for 15%. Supported by the country’s ongoing digital transformation, with digital payment transactions surging by 28.7%, these solutions, including Wing Money, Pi Pay, and others, will enable game developers to reach nearly 2 million gamers in Cambodia, facilitating seamless checkout experiences and boosting sales.
In Indonesia, Xsolla is introducing several new payment methods to help game developers tap into the country’s vast gaming market, with over 185 million gamers out of a 275 million-strong population. Approximately 80% of consumers in Indonesia are unbanked or underbanked. With smartphone penetration reaching up to 80%, Alternative Payment Methods (APMs) are the most preferred option in Indonesia. By integrating these APMs, Xsolla can cover up to 90% of the market. This includes E-wallets, which account for 39% of the market, Bank Transfers at 27%, Cards at 17%, and Cash at 11%. Popular platforms such as ShopeePay, Jenius, and Akulaku are among the new payment options, simplifying transactions for Indonesian gamers and boosting market reach for game developers in one of the fastest-growing digital markets globally.
“Xsolla’s commitment to empowering game developers to access new markets is central to our mission. By introducing localized payment methods in Cambodia and Indonesia, we provide our partners with the tools they need to succeed in these dynamic and rapidly growing gaming environments. This expansion is part of our ongoing efforts to support developers globally and help them overcome payment challenges,” said Chris Hewish, Chief Strategy Officer of Xsolla.
The gaming market in Cambodia is projected to reach $75.21 million by 2027, with mobile games accounting for 66% of the revenue in 2023. In Indonesia, digital transformation opens up significant opportunities for game developers, mainly through localized payment solutions that reduce friction and improve transaction success rates.
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Fintech
Ibanera to Spotlight The Future of FinTech at RAK DAO Conference
Ibanera, a leading digital banking platform, is attending the RAK DAO conference this year as one of the primary sponsors. At the event, Michael Carbonara, CEO of Ibanera, will be driving discussion on the future of fintech amongst Web3 leaders, including what this looks like in the Middle East and the RAK DAO ecosystem.
Ibanera’s role at the event will showcase the fintech enablement platform’s commitment to driving innovation and leadership amongst the emerging technology industry as it showcases its latest projects.
Ibanera’s CEO Michael Carbonara will also play a key role at the conference, as he joins global business leaders to discuss the power of interconnectivity during a panel talk that will further highlight the company’s influence as a supportive power to global institutions and financial organisations alike. Within this talk, Carbonara will be exploring the RAK DAO vision, mapping a decentralized world built within a well-integrated ecosystem for which collaboration, partnerships and innovation mark key pillars of success.
“As the fintech space continues to pursue greater connections across the global Web3 and decentralized landscape, the more we are able to map out what the future of finance looks like and how it will shape businesses and banking”, said Michael Carbonara, CEO of Ibanera. “The RAK DAO Conference is a cornerstone moment for the industry to get together and explore this exciting world of innovation, and I’m looking forward to hearing fresh perspectives from leaders within the community”.
As a key partner for this year’s RAK DAO conference, the MENA region’s premier blockchain and Web3 summit, Ibanera continues to devote its focus on the innovative Web3 momentum in the Middle East. Carbonara’s panel discussion at RAK DAO 2024 this year will occur on October 25th in Ras Al Khaimah, UAE.
The post Ibanera to Spotlight The Future of FinTech at RAK DAO Conference appeared first on HIPTHER Alerts.
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