Connect with us

Technology

UP Fintech: Record-High Quarterly Revenue with Total Client Assets Reaching US$38.2 Billion

Published

2 years ago

on

NEW YORK, Aug. 30, 2024 /PRNewswire/ — UP Fintech Holding Limited (“UP Fintech” or the “Company”, NASDAQ: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm committed to redefining global investing through next-generation technologies, today announced its unaudited financial results for the second quarter ended June 30, 2024. In the second quarter, the company achieved a total revenue of US$ 87.4 million, reflecting a quarter-over-quarter (QoQ) increase of 10.8% and a year-over-year (YoY) increase of 32.4%, hitting a new record high. Non-GAAP net income attributable to UP Fintech was US$5.2 million. In the second quarter of 2024, the Company added 60,600 new global account holders, a QoQ increase of 17%, bringing the total number of global accounts to 2.3 million. 48,900 new funded accounts were added, bringing the total number of funded accounts at the end of the second quarter to 982,300, a YoY increase of 17%. Additionally, market trading activity continued to increase in the second quarter, with the Company’s total trading volume growing 62.5% YoY to US$105.9 billion. Net asset inflow remained robust, reaching US$7 billion for the first half of the year, which drove total account balance up by 16.2% QoQ and 121.1% YoY to an all-time high of US$38.2 billion.

UP Fintech’s founder and CEO, Wu Tianhua, stated, “In the second quarter, the company’s business grew significantly as the market environment became more active, with revenue reaching a record high. As of early August, the number of funded clients worldwide has exceeded 1 million, and total client assets have continued to reach new highs for the past three consecutive quarters, fully demonstrating the long-term growth potential of Tiger Brokers.”

“Tiger Brokers is always committed to a ‘Customer First’ approach and has continued to develop local products in markets such as Singapore and Hong Kong to meet the diverse needs of investors. Following the launch of Singapore’s first debit card with fractional share rewards and the Cash Boost trading account in the first quarter, we have received widespread market acclaim, significantly boosting local trading volume and activity. In Hong Kong, after pioneering the offering of virtual asset trading services to professional investors, we have now fully extended this service to retail investors as well. In early August, we launched a ‘Double Free’ promotion, exempting commissions and platform fees, while supporting real-time USD settlement for virtual asset transactions. This provides users with a truly secure, convenient, and cost-effective one-stop global trading service, leading the way in the Hong Kong tech brokerage experience.”

Singapore maintains a leading position with popular local products

Client assets doubled QoQ in Hong Kong in Q2

Singapore’s leading position continues to strengthen, with a 112% QoQ increase in newly funded clients in Q2, a 50% YoY increase in the number of transactions, and a 548% QoQ increase in net asset inflow. US stock options trading also remained active, with the number of transactions increasing by 79% YoY.  In addition, Tiger Brokers is also deepening its focus on local products and services. Following the launch of Singapore’s first fractional share debit card, the “BOSS Debit Card,” in partnership with a local licensed institution* last quarter, we’ve continued to meet the demand for convenient payment solutions, earning positive feedback from the market. In Q2, BOSS Card usage surged, with transaction volumes and user numbers up 258% and 42% quarter-on-quarter, respectively. The card is particularly popular among investors under 35, who account for nearly 60% of new users. Meanwhile, the “Cash Boost” trading account, tailored for experienced traders, has made Tiger Brokers the first tech brokerage in Singapore to support the Contra trading strategy. This account allows clients to obtain trading leverage without depositing funds and has attracted a large number of active users since its launch in April. Recently, Cash Boost trading accounts have also achieved a direct connection with CDP (Central Depository Account). Users can sell securities purchased from other brokers and held in CDP through Tiger Brokers, enjoying greater trading convenience.

For the Hong Kong market, the number of new accounts in Q2 doubled QoQ, while client assets grew by 119% QoQ. The average net asset inflow for new funded clients reached US$15,000, maintaining a high-quality client base. Following the pioneering launch of virtual asset trading services to professional investors in Hong Kong in May, Tiger Brokers has fully expanded these services to retail investors. Recently, Tiger launched a “Double Free” promotion for virtual asset trading, which waives commissions and platform fees, and supports real-time USD settlement for virtual asset transactions, with 7-day, 24-hour trading. Currently, all investors in Hong Kong can trade up to 18 virtual assets**, including Bitcoin (BTC) and Ethereum (ETH), as well as a wide range of global assets such as stocks, options, futures, US Treasuries, and funds through the one-stop Tiger Trade platform, enabling seamless allocation and management of virtual and traditional financial assets. In addition, “Tiger Vault”, the cash management tool, has sustained its popularity, with subscriptions to HKD and USD money market funds increasing by 100% and 50% QoQ respectively in Q2. Trading of both US stocks and options remained robust, with the number of transactions increasing by 62% and 31% QoQ respectively.

Tiger Brokers continues to refine its localized services in Australia, steadily building user trust. As one of the few tech brokers in Australia that support US options trading, Tiger launched Level 2 US options trading in Q2, with US options trading volume increasing by 146% QoQ. At the same time, user trading became more active, with the weekly average of Daily Average Revenue Trades (DARTs) increasing by 17% QoQ. Gross income from trading commissions across all products increased by 47% QoQ. Further solidifying its industry recognition, Tiger Trade Australia was recently awarded ” Best Mobile App” in Finder’s Share Trading Platform Awards 2024. In New Zealand, Tiger continues to attract more high-quality clients. In Q2, client assets grew significantly, with total deposits increasing by 124% YoY and average first-time deposits increasing by 188% YoY. Trading activity was robust, with the number of trading accounts increasing by 133% YoY in Q2. US stock trading performed exceptionally well, with US stock orders increasing by 137% YoY and US options orders increasing by 97% YoY in Q2. Furthermore, Tiger launched its “Tiger Vault” cash management service in New Zealand, further assisting local investors in managing their assets conveniently and efficiently.

Options trading features upgraded comprehensively: Singapore launched “Strike & Save” tool

Tiger Vault surges in Singapore: One out of every three new funded clients activated this feature

In Q2, commission income reached US$34.1 million, a QoQ increase of 22.7%; interest-related income reached US$47.1 million, a 19.9% YoY increase. The Company continues to enhance the one-stop global investment experience on Tiger Trade. In terms of products, options trading features have been further upgraded, with Singapore taking the lead in launching “Strike & Save”, a powerful tool for US options sellers. This one-stop service for opening options positions offers more in-depth analysis and more efficient order placement. US options trading now includes stop-loss and trailing stop-loss orders, helping investors better cope with changes in the options market. US and Hong Kong stock options now feature forward P/E ratio analysis, covering nearly a decade of data, to assist with options pricing. By continuously strengthening options trading features, the daily average number of options trades (DARTs) increased by 13% QoQ in Q2. To address investors’ focus on individual stocks, Tiger has introduced a customizable daily research digest, which delivers curated essential information in the morning and evening***, providing users with a more personalized and convenient experience. The trading feed feature continues to be favored by users, with a 150% QoQ increase in subscribers and a 170% QoQ increase in average daily guided trade orders. Previously, 24-hour trading for US stocks was fully launched, and currently supports up to 9,500 US stocks and ETFs, allowing trading at any time, 24/5, providing more convenience for investors trading US stocks across time zones.

Launched in Q2 of last year, TigerGPT, the first AI investment assistant in the brokerage industry to integrate ChatGPT technology and the latest financial data, has continued to accumulate users. With its powerful big data processing capabilities, TigerGPT can quickly analyze and summarize complex market dynamics and financial reports, helping investors gain a deeper understanding of market conditions and greatly improve their investment decision-making efficiency. Currently, TigerGPT has reached 80,000 users worldwide, with over 520,000 cumulative user conversations and an average of over 10,000 conversations per week.

On the wealth management side, the number of wealth management services users increased by 150% YoY, further increasing the platform penetration. The Company’s cash management service, “Tiger Vault”, further enhanced its redemption efficiency and continued its strong performance. One out of every three new funded accounts activated “Tiger Vault” in the second quarter. The average 7-day annualized yields of USD, HKD, and SGD money market funds exceeded 5.2%, 4.2% and 3.6% respectively in Q2, consistently outperforming the market average.

In Singapore, “Tiger Vault” launched T+0 same-day settlement, which helped accelerate market trading efficiency. The Tiger Fund Management (TFM) continued to gain trust from high-net-worth clients, with its Tiger-Yuanta USD Liquidity Fund achieving a 7-day annualized pre-fee yield of 5.4% in Q2, and its Discretionary Portfolio Management (DPM) business achieving 40% growth.

Since the Company launched the TradingFront Turnkey Asset Management Platform (TAMP) in September 2023, it has acquired a strong reputation among institutional clients for its advanced trading capabilities, efficient online processes, and diverse investment options. In Q2, the “Tiger Vault” business on TradingFront saw significant growth, with Assets Under Custody (AUC) surging by 26.5% QoQ. In Singapore, TradingFront partnered with Manulife to provide flexible Variable Universal Life (VUL) insurance custody services to accredited investors. TradingFront has also introduced Fixed Coupon Notes (FCNs) and now offers quotes from 11 issuers to enrich investment options.

Strong presence in the US IPO market: 13 successful projects as lead underwriter

Employee Stock Ownership Plan (ESOP) SaaS revenue doubled YoY

In Q2, UP Fintech’s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$6.3 million. The Company continues to solidify its position as a leading underwriter in the US IPO market. In Q2, the Company acted as the lead underwriter on two US IPOs and served as the Zeekr IPO’s distributor. As of end of Q2, the Company successfully completed 13 US IPO projects (including SPACs) as lead underwriter. Also, the Company ranked fourth among the underwriters for Hong Kong IPOs, underwriting IPOs for ten companies including Laopu Gold, Dida, Mobvoi and ChaPanda.

On the ESOP front, the Company’s UponeShare service added 22 new enterprise clients this quarter, bringing the total number of serviced enterprise clients to 579. Meanwhile, the company’s ESOP SaaS revenue surged by 149.5% YoY and 27.9% QoQ.

This quarter, Tiger Enterprise Account added 14 companies such as Sino Biopharmaceutical, Dida, and Fosun International, bringing the total number of clients to 442. Tiger Enterprise Account currently offers a full life-cycle of investor relations (IR) and public relations (PR) services tailored to the diverse communication needs of businesses across various industries. These services include live earnings calls, key rankings, offline research, earnings report communication and Investor Q&A, aiming to help companies reach investors and institutional audiences more effectively and precisely.

* Tiger Brokers (Singapore) Pte Ltd has partnered with a local licensed partner to provide card issuance and account issuing services.

**Certain virtual assets transactions are only available for professional investors.

***Available in Select Markets

View original content:https://www.prnewswire.com/news-releases/up-fintech-record-high-quarterly-revenue-with-total-client-assets-reaching-us38-2-billion-302234853.html

SOURCE UP Fintech Holding Limited

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Changan Group Unveils Its In-house Developed ADAS — SDA Pilot

Published

1 hour ago

on

June 14, 2026

By

CHONGQING, China, June 14, 2026 /PRNewswire/ — At the 28th Chongqing International Auto Exhibition, Changan Group showcased its full brand lineup including CHANGAN NEVO, CHANGAN DEEPAL and AVATR at Hall N8, and officially launched its self-developed Advanced Driver-Assistance System, SDA Pilot.

At the press conference, Zhu Huarong, Chairman of Changan Group, stated: “Changan will work together with partners and users worldwide to make ADAS better, more practical, and more accessible, protecting every journey with smart technology.” It is announced that the CHANGAN NEVO Q06 will come standard with SDA Pilot across all trim levels and hit its domestic market in the second half of 2026.

SDA Pilot Takes the Spotlight: Three-tier Safety Defenses Upgrade the ADAS Experience

As Changan’s latest technological achievement in smart mobility, SDA Pilot breaks the boundaries of traditional physical safety and establishes three comprehensive safety defense systems covering physical well-being, mental comfort and emotional interaction.

The entry-level SDA Pilot Pro comes standard with LiDAR, capable of identifying obstacles in low-light conditions such as at night or in tunnels two seconds faster than the human eye. Supported by the globally leading SDA Central Ring Network Architecture, the system cuts response time by an additional 150 milliseconds. SDA Pilot Max, leverages over 20 million high-quality real-world driving data segments for training, delivering exceptional perception and predictive capabilities to confidently navigate complex, high-frequency commuting scenarios. The top-tier SDA Pilot Ultra is integrated with the VLM (Vision Language Model), which greatly enhances the vehicle’s environmental perception and enables interactive advanced driver-assistance functions, turning the vehicle into an intuitive travel companion. In the future, an active driver incapacitation protection function will also be introduced to safeguard driving safety at the first moment.

While continuously evolving its ADAS user experience, Changan remains committed to its safety bottom line, clearly reminding: “Driver assistance is not autonomous driving. Drivers are still required to take on the core responsibilities of real-time monitoring and taking over control at any time.”

Advancing the “1445” Global Strategy: 17 Years of Intelligent R&D Build Solid Safety Foundations

Changan Group lives by the tenet of “Intelligence defines Changan.” As a core component of the “1445” Global Strategy that underpins four transformation priorities (The four priorities refer to: intelligent mobility, electrification, a unified ecosystem, and globalization), intelligent mobility stands as the primary driving force for Changan’s upgrading. The company is committed to building a world-class auto group with global competitiveness and independent core technologies, aiming to rank among the world’s top 10 automobile brands by 2030. The launch of SDA Pilot marks a landmark achievement of this strategy in the advanced driving-assistance sector.

Behind this technological breakthrough lies a solid intelligent foundation built by Changan over 17 years. Since establishing its intelligent R&D team in 2009, Changan has forged ahead in uncharted technological territories and built the China’s only national key laboratory dedicated to intelligent vehicle safety technology — CHANGAN SDA LAB. The lab supports round-the-clock global collaborative testing with more than 400,000 virtual simulation scenarios.

Over the past five years, more than 2,000 Changan engineers have completed over 5 million kilometers of real-road tests across Chongqing’s notoriously complex road conditions, covering 185 typical driving scenarios. Rich field experience has been embedded into the system, which keeps evolving based on user feedback and forms the unshakable safety strength of SDA Pilot.

Empowered by intelligent technologies, Changan continues to accelerate its global footprint. To date, the group has established 22 overseas manufacturing bases with an annual capacity of 350,000 vehicles, and 1,124 overseas sales outlets, covering 118 countries and regions, with 41 global models launched. In 2025, Changan’s overseas sales reached 637,000 vehicles, a year-on-year increase of 18.9%.

Since the start of 2026, Changan has made successive moves in its globalization strategy: launching the Vast Ocean Plan 2.0 during the AutoChina 2026 in Beijing, establishing four core principles: long-term development, localization, systematization, and responsible ESG practices; and more recently, partnering with the Portuguese Football Federation (FPF) to become the Official Global Partner of the Portugal National Football Team, using sports as a bond to deepen global user connections and brand engagement.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/changan-group-unveils-its-in-house-developed-adas–sda-pilot-302799729.html

SOURCE Changan Group

Continue Reading

Technology

Kakunin Announces Cryptographic Compliance Shield for Google Gemini and OpenAI Agent Ecosystems

Published

8 hours ago

on

June 14, 2026

By

SaaS Compliance Leader Launches First-Class SDK Integrations for Google Antigravity, OpenAI Swarm, and OpenAI Assistants API to Meet Strict MiCA and EU AI Act Standards.

LONDON, June 13, 2026 /PRNewswire-PRWeb/ — Kakunin, the leading compliance infrastructure platform for autonomous AI agents, today announced the release of first-class SDK integrations for Google Antigravity SDK, OpenAI Swarm, and the OpenAI Assistants API.

Autonomous agents are executing high-value, real-world tasks—but without strict boundaries, they represent a massive security risk,” said Palash Bagchi, Founder, at Kakunin.

As organizations move autonomous AI agents from sandboxes to production, securing the tools they run has become a critical operational hurdle. The new integrations allow developers to cryptographically secure and audit agent actions in real time, meeting the strict requirements of upcoming regulations like the EU AI Act and MiCA.

Preventing Agent Drift at the Tool Layer

Instead of relying on prompt engineering or system instructions—which are susceptible to jailbreaks—Kakunin secures agent tool execution at the cryptographic layer:

Pre-Flight Scope Verification: Validates that an agent possesses the required permission scope (e.g., trade.execute, file.write) before executing local code.Active-Agent Enforcement: Dynamically halts execution if the agent’s underlying X.509 certificate has been revoked or suspended.Tamper-Evident Auditing: Automatically logs session starts, prompts, responses, tool successes, and error anomalies.

Ecosystem Compatibility out of the Box

The new releases bring seamless, code-first integrations to the industry’s leading agent frameworks:

Google Antigravity SDK: Hook-based runtime protection that automatically secures Gemini-powered tool workflows.OpenAI Swarm: A lightweight class wrapper (KakuninSwarm) that dynamically gates multi-agent handoffs and task executions.OpenAI Assistants API: A polling-loop helper (handle_assistants_requires_action) that streamlines safety checks and tool output formatting in a single call.

Beyond these core OpenAI and Google environments, the new releases also extend Kakunin’s cryptographic shield to the broader agent development community. Out-of-the-box templates and shims are now available for LangChain (KakuninToolGuard), LlamaIndex (KakuninFunctionToolGuard), CrewAI (KakuninCrewAgent), and AutoGen (KakuninConversableAgent), alongside native middlewares for Next.js API routes and raw client libraries for Go, TypeScript, and Python.

“Autonomous agents are executing high-value, real-world tasks—but without strict boundaries, they represent a massive security risk,” said Palash Bagchi, Founder, at Kakunin. “By bringing cryptographic X.509 validation directly to Google’s and OpenAI’s agent loops, we are giving developers the peace of mind to deploy agents in highly regulated environments like fintech and healthcare.”

Availability

The new SDK integrations are available immediately:

Python Package: Available on PyPI via pip install kakunin.Playground Notebooks: Developers can test the integrations in 1-click via the official OpenAI Cookbook and Google Gemini Cookbook.Reference Samples: Available on the public Kakunin Samples Repository.

To learn more about securing your autonomous agent workflows, visit kakunin.ai/docs. or visit Conversational GTM for more enquiries.

Media Contact
Palash Bagchi, Immortal Reality PA LLC, 1 4125437290, ai@kakunin.ai, https://www.kakunin.ai/

View original content to download multimedia:https://www.prweb.com/releases/kakunin-announces-cryptographic-compliance-shield-for-google-gemini-and-openai-agent-ecosystems-302798798.html

SOURCE Kakunin

Continue Reading

Technology

District Taco Kicks Off The Summer’s Biggest Soccer Event with Free Delivery Offer

Published

15 hours ago

on

June 13, 2026

By

App Users can enjoy District Taco at home with free delivery during the world’s biggest soccer tournament.

WASHINGTON, June 13, 2026 /PRNewswire-PRWeb/ — District Taco is bringing the excitement of the world’s biggest soccer tournament straight to fans’ homes with a special promotion designed to make game-day meals even more convenient.

This promotion makes it easier and more affordable to enjoy District Taco delivered right to your door so you don’t miss a moment of the action!

From June 11 through July 19, guests who order delivery through the District Taco app can use promo code ‘SOCCER26’ to receive $5 off their order, effectively offsetting the standard delivery fee and creating a free delivery experience.

Whether cheering on a favorite team, hosting a watch party, or enjoying the match from the couch, fans can enjoy District Taco’s fresh, made-to-order menu without leaving home or the extra delivery cost. “We know fans will be gathering throughout the tournament to watch some of the most exciting matches in the world,” said Osiris Hoil, CEO of District Taco. “This promotion makes it easier and more affordable to enjoy District Taco delivered right to your door so you don’t miss a moment of the action!”

The promotion is part of District Taco’s broader effort to drive digital engagement and app use. Here are the campaign details:

Enter Promo Code: ‘SOCCER26’ when placing the order in-appOffer: $5 off delivery ordersAvailable: June 11 through July 19Valid on: District Taco app delivery orders only (not third-party platforms)

Guests can download the District Taco app here for Apple users and here for Android users!

About District Taco

In 2009, two neighbors got together over some homemade chips, salsa and guacamole and decided to launch District Taco as a food cart. Since then, District Taco has opened multiple locations in Virginia, Maryland, New Jersey, New York, Pennsylvania, Florida, and Washington, DC. Their mission is to serve quality – Yucatán style – Mexican food that is fresh, simple, and healthful, with a fully customizable menu that includes vegetarian, vegan and gluten-free options. At District Taco, food is made fresh daily from the highest quality ingredients. They strive to limit their impact on the environment by serving in environmentally friendly packaging where possible. For more information about District Taco or their menu, and to download the app, visit districttaco.com or follow @districttaco across socials.

Media Contact

Raquel Robinson, District Taco, 1 5712657573, raquel.robinson@districttaco.com, districttaco.com

View original content to download multimedia:https://www.prweb.com/releases/district-taco-kicks-off-the-summers-biggest-soccer-event-with-free-delivery-offer-302799507.html

SOURCE District Taco

Continue Reading

Trending