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UP Fintech: Revenue Hits Record US$101M; Profit at Three-year Peak; Client Assets Doubled YoY to US$40.8 Billion

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NEW YORK, Nov. 12, 2024 /PRNewswire/ — UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), announced its unaudited financial results for the third quarter ended September 30, 2024. UP Fintech reported record revenue of US$101.1 million in the third quarter, representing a 15.6% increase quarter-over-quarter (QoQ) and a 44.1% increase year-over-year (YoY). Non-GAAP net income attributable to UP Fintech shareholders was US$20.1 million, up 286.5% QoQ and 25.6% YoY. The Company added 60,000 new accounts in Q3, bringing its total global account number to 2.37 million, a 10.2% YoY increase. New funded accounts increased by 50,500, driving total funded accounts to 1,032,800, a 19.3% YoY increase. Trading volume remained robust, with total trading volume increasing 103.1% YoY to US$163 billion. Strong net deposits propelled client assets to US$40.8 billion, a 6.7% QoQ and 115.9% YoY increase, reaching a record high.

UP Fintech’s founder and CEO, Wu Tianhua, stated, “In Q3, enhanced product experience drove significant business growth for the company, with revenue surpassing US$100 million — a record high — and profit reaching a three-year peak. Total client assets doubled YoY to US$40.8 billion, and the company has already achieved its annual guidance of acquiring 150,000 newly funded accounts by now. Global trading activity remained strong, with trading volume doubling YoY.”

“Tiger Brokers continued to improve client investment experiences by launching virtual trade-sharing accounts, allowing users to track the trades of prominent figures like Warren Buffett and Nancy Pelosi. In Hong Kong, Tiger introduced monthly options for Hong Kong stocks in September, boosting weekly trader engagement and order volumes. Recently, we launched weekly stock options for Hong Kong stocks, becoming one of the first brokers to offer cycle options trading in the region, enhancing trading convenience and options for local investors.”

SG: Achieved record-high quarterly trading volume and commission income

HK: Client assets grew 30% QoQ

In Singapore, Tiger Brokers saw significant growth in Q3, with several key metrics hitting an all-time high. Both total trading volume and commission income reached record levels, soaring 253% and 72% YoY, respectively. Net asset inflows climbed 134% YoY. Stock trading remained strong, with US and Singapore stock trading volumes reaching record highs, up 87% and 73% YoY. US options trading also performed exceptionally well, setting new records for the number of orders, trading volume, and commission income, with increases of 108%, 187%, and 59% YoY, respectively. Futures trading also saw record trading volume and commission income, jumping 357% and 110% YoY. In addition, the Cash Boost trading account, which was linked to the Central Depository (CDP) account in August, attracted a broader investor base, driving a 43% increase in trading orders and a 53% increase in gross commission QoQ. In September, the Tiger BOSS Debit Card and Tiger Vault were integrated for T+0 automated subscriptions and redemptions, streamlining clients’ daily spending, wealth management, and stock trading.

Hong Kong continued to attract high-quality clients in Q3, with client assets growing by over 30% QoQ. In Q3, Hong Kong launched stock options and short-selling to provide local investors with more comprehensive investment options. Following the introduction of monthly stock options in late September, weekly trading activity and order volume rose significantly, reflecting growing demand. Recently, Tiger also introduced weekly Hong Kong stock options, becoming one of the first brokers to support cycle options trading in the region. Since expanding virtual asset trading to retail investors on July 1, Tiger Brokers has seen a surge in the number of investors and orders. This quarter saw Hong Kong users’ crypto trading orders and volume jump 1,673% and 1,293% QoQ. Tiger Vault also remained popular, with USD money market fund orders and volume up 99% and 106%, and US Treasury bond orders and volume rising 119% and 160% QoQ.

In the U.S., TradeUP demonstrated robust growth momentum in Q3. User downloads grew by 122% compared to Q2, with account openings up by 88% QoQ, reflecting strong platform appeal and market reach. U.S. client trading volume in U.S. stocks grew 179% QoQ, while options trading increased by 89%. Q3 also marked progress in self-clearing for U.S. stocks and options, enhancing trade execution, stock lending, and settlement. Stock clearing volume rose 93% YoY and options clearing volume by 185%. Night trading delivered standout performance, with after-hours U.S. stock trading volume via Tiger’s self-clearing up by 240% QoQ. Additionally, leveraging diversified stock lending services, TradeUP’s stock lending and margin financing volume grew 114% YoY and 52% QoQ. As of Q3, TradeUP led six IPOs of Asia-Pacific companies, securing the top industry rank.

In Australia, Tiger Brokers continued to build trust with local clients, achieving a 104% YoY increase in newly funded accounts. Net asset inflows grew 207% YoY and 82% QoQ. Gross commission income rose 122% YoY. In August, Tiger Trade received the Finder 2024 “Best Mobile App” award in Australia, earning significant industry recognition. In New Zealand, Q3 saw strong trading activity on Tiger’s platform, attracting a large number of high-quality clients, with total deposits increasing 128% YoY, and trading volume surging 249% YoY. US stocks and options trading continued to perform well, with the number of orders growing 114% and 124% YoY respectively in Q3.

New subscriptions to Trade Feed grew 85% QoQ
Tiger Vault’s users doubled YoY

In Q3, commission income rose 20.9% QoQ to US$41.2 million, while interest-related income grew 22% YoY to US$50.8 million. Tiger Brokers continues to enhance its one-stop global investing experience. Product enhancements include enriched options functions with the addition of implied volatility and options volatility analysis*, catering to professional users and helping them select appropriate options strategies. A new “Yield Hunting” product list on Tiger’s wealth homepage provides rich historical backtesting performance and fundamental information, empowering high-net-worth individuals to optimize investment decisions and maximize returns. Key metrics such as backtested PoP(Probability of Profit) and are assignment probability have been added to the FCN notes details page. A new watchlist assistant feature* provides timely alerts on stock movements for holdings, helping investors avoid missing crucial investment opportunities. The Trade Feed feature continues to upgrade, with the significant addition of Guru Tracker* in Q3, allowing users to track the trades of prominent figures like Warren Buffett and Nancy Pelosi. Trade Feed is now supported in Australia, helping novice investors stay informed on the latest trading activity. The number of new Trade Feed feature subscriptions grew significantly, up 85% QoQ.

On the wealth management side, spurred by the Federal Reserve’s rate cuts, assets under management (AUM) and users grew 101% and 92% YoY in Q3. Tiger Vault continued to gain traction, with AUM and users increasing 99% and 106% YoY. Tiger Wealth’s expanded product range is driving deeper client engagement across asset classes. The AUM of US Treasury bonds held by wealth clients grew 64% QoQ. Gross merchandise value (GMV) for structured notes traded by high-net-worth clients saw a growth rate of over 112% QoQ. To help clients navigate market volatility, Tiger Wealth launched thematic content and a series of livestreams on topics such as the “US Election” and “Trading Amidst Rate Cuts” in Q3, featuring expert insights and providing timely, in-depth market analysis. Tiger Wealth’s newly launched Hong Kong immigration through investment services and flexible US Treasury Discretionary Portfolio Management (DPM) services also proved popular with high net worth clients in Q3.

Since its launch, the TradingFront asset management platform (TAMP) has focused on providing flexible account structures, convenient online account opening, and multi-market, multi-asset trading services, steadily building a strong reputation among trading-oriented institutional clients. In Q3, TradingFront platform AUM grew 16% QoQ, and the number of regular investing accounts increased 20% QoQ. At the Singapore Financial Advisers Association (AFA) annual conference in August, Tiger highlighted how TradingFront empowers financial advisors to leverage fintech and AI, keeping pace with industry changes and continuously enhancing their service efficiency and capabilities.

Among the top three HK IPO underwriters
Employee stock option management SaaS platform net profit jumped over 2.7 times QoQ

In Q3, UP Fintech’s other revenues, encompassing services such as investment banking and Employee Stock Ownership Plan (ESOP), reached US$9.1 million. Tiger Brokers continued to demonstrate its strong capabilities and expertise in US stock underwriting. In the reporting period, Tiger served as the lead underwriter for three US IPOs, acting as the sole lead underwriter for both NIP Group and XCharge. Leveraging its superior trade execution capabilities, Tiger also facilitated three share repurchase agreements for US-listed companies in Q3. Furthermore, Tiger underwrote nine Hong Kong IPOs in the reporting period, including those of Metasurface Technologies, Zhonggan Communication, Xi’an Kingfar Property, and Fangzhou Jianke, ranking among the top three on the Hong Kong IPO underwriting league table for Q3.

The Employee Stock Ownership Plan (ESOP) front, or UponeShare, added 18 new enterprise clients to reach 597 total clients served. Client retention improved significantly, with repeat orders exceeding new orders and growing 33.3% QoQ. Meanwhile, the Company continued to expand into new business models, signing its first software product order during the quarter. Following its milestone of achieving profitability in Q2, the employee stock option management SaaS platform maintained its positive momentum in Q3, with net profit surging by over 270% QoQ and on track for full-year profitability.

Regarding Tiger Enterprise Account, the Company added 13 new clients this quarter, including ChaPanda, Shansong, and YXT.com, bringing the total number of enterprise clients to 455. During the quarter, the Company facilitated Tuya Inc.’s Q2 earnings call, promoting effective communication with the market. “Tiger Online Show”, a high-profile, in-depth interview series, partnered with Kingsoft Cloud executives in September to provide investors with insights and guidance on investment decisions in the cloud services sector. Additionally, the Tiger Enterprise Account has successfully organized an investor relations event for Eastbuy, delving into the business development of livestream e-commerce and exploring new industry trends.

*Available in certain markets

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SOURCE UP Fintech Holding Limited

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Finloop Becomes Industry Pioneer in HKMA’s EnsembleTX, Exploring Compliant Tokenisation Applications

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November 3, 2026

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HONG KONG, Nov. 3, 2026 /PRNewswire/ — Finloop Finance Technology Holding Limited (“Finloop”), an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform, today announced that it has become an industry pioneer in EnsembleTX, launched by Hong Kong Monetary Authority (HKMA), to explore faster, more transparent, and more efficient settlement of real-value tokenised transactions.

HKMA launched the Project Ensemble sandbox in August 2024 to accelerate adoption of tokenisation. In November 2025, it introduced EnsembleTX, marking the commencement of the pilot phase of Project Ensemble. This represented a significant advancement in enabling real-value transactions involving tokenised deposits and digital assets within a controlled pilot environment. In its initial phase, EnsembleTX focuses on empowering market participants to utilise tokenised deposits in tokenised money market fund transactions, and to manage liquidity and treasury needs in real time. Moving forward, EnsembleTX will further support the interbank settlement of tokenised deposit transactions in tokenised Central Bank Money (CeBM) on a 24/7 basis. 

Finloop has built FinRWA Platform (FRP), Asia’s first one-stop RWA (Real-World Asset) technology, issuance, and distribution platform. The platform supports multi-party participation across the full lifecycle of tokenisation, involving issuers, custodians, tokenisation agents, and other institutions. Finloop has achieved several industry breakthroughs in the tokenisation sector, including supporting the distribution of multi-currency tokenised funds and launching Hong Kong’s first technical solution for a unit trust tokenised fund. Finloop has also advanced RWA projects spanning cultural and creative IPs, gold mines, oil and gas fields, and automobiles, leveraging digital assets to empower the real economy. Its subsidiary is also an authorised distributor of the regulated Hong Kong dollar stablecoin HKDAP. Through its integration into the EnsembleTX, Finloop will draw on its technology solutions that bridge Web2 and Web3 to support the compliant and efficient issuance and distribution of tokenised assets among institutions.

Cai Hua, Chief Executive Officer of Finloop, said: “Finloop is honored to participate in the HKMA’s EnsembleTX. Hong Kong is at the forefront globally in the regulatory foresight and ecosystem development of digital assets and RWAs. Finloop will fully leverage its core strengths in tokenisation technology and institutional-grade wealth technology, actively follow the guidance of regulators, and work closely with tokenised deposit banks and other industry pioneers. We aim to provide institutional clients with a secure, compliant, transparent, and efficient trading experience for tokenised assets, and jointly expand Hong Kong’s tokenisation ecosystem.”

Looking ahead, Finloop plans to build on its practical experience in EnsembleTX to actively explore a broader range of compliant use cases, including tokenised money market funds, tokenised ETFs, tokenised private funds, tokenised notes, and related treasury management. It will continue to leverage its technological advantages in connecting Web2 and Web3 to drive the efficient issuance, distribution, trading, and settlement of relevant tokenised assets among institutions, further advancing the development of Hong Kong’s tokenisation ecosystem.

About Finloop Finance Technology Holding Limited

Finloop Finance Technology Holding Limited, along with its subsidiaries (collectively referred to as “Finloop”), is an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform located in Hong Kong. Finloop offers comprehensive wealth management products and technology solutions to various financial institutions. Its offerings include cash management, mutual funds, alternatives, structured products, bonds, insurance, and virtual assets. As a fintech leader in Asia during the Web3 wave, Finloop has focused on bridging physical and digital assets, developing a one-stop RWA technology, issuance and distribution platform to pioneer new growth pathways in the wealth management industry. For more information, visit www.finloop.hk and www.finlooprwa.com

Follow Finloop on LinkedIn and X for the latest updates. 

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SOURCE Finloop Finance Technology Holding Limited

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Xinhua Silk Road: Foreign journalists explore Yuhang’s innovation-driven development

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November 3, 2026

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BEIJING, Nov. 3, 2026 /PRNewswire/ — Journalists from South Korean, Turkish, U.S. and Cuban media outlets visited several hi-tech companies and modern agricultural demonstration parks in Yuhang District, Hangzhou, on October 26-28.

Through site visits and hands-on experiences, they gained firsthand insights into Yuhang’s progress in integrating technological and industrial innovation.

They began their tour at Scantech, a leading comprehensive 3D solutions provider, where they explored and experienced 3D visual digitization technologies on October 26.

After trying out a 3D scanner, Isaura Diez, a journalist with Cuba’s Prensa Latina news agency, said this was her first time using a scanner, and was deeply impressed by both the device and the technology behind it. What particularly impressed her were its wide-ranging applications, including in the medical and industrial fields, she added.

On October 27, the group visited RoboCT Technology, a national high-tech enterprise dedicated to the development and application of exoskeleton robotics, to learn about the research, development and practical applications of exoskeleton robots.

At RoboCT, they learned how exoskeletons help patients with lower-limb impairments from spinal cord injuries and strokes stand and walk again, and saw brain-computer interface technology enabling thought-controlled rehabilitation.

After trying on the GoGo-H Pro exoskeleton, a reporter from Turkish newspaper Aydinlik praised the equipment for its incredibly light weight. It felt just like a part of my own body, he said, adding that what impressed him was experiencing firsthand how China’s advanced technologies are being used to improve people’s lives.

At Xynova, a leading supplier of key components in the humanoid robotics sector, Dan Sandoval, a contract photographer of the Associated Press, put on its high-DoF dexterous hand product Flex 2. He said the product could perform all the movements that a human hand can make and he hoped to see it applied in an increasingly wide range of scenarios in the future.

The journalists later visited the Qianxi eco-friendly agricultural demonstration park in Jingshan Town. There, they learned how digital rice seedling cultivation and AI-powered management systems are being applied throughout the entire rice production process.

As Hangzhou’s new urban center, Yuhang is advancing technological and industrial integration, driving momentum in the digital economy, cutting-edge technologies, urban-rural development and rural revitalization. 

Original link: https://en.imsilkroad.com/p/352790.html

SOURCE Xinhua Silk Road

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Oracle Announces Pricing of $20 Billion of Common Stock and Senior Notes

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November 3, 2026

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AUSTIN, Texas, Nov. 2, 2026 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced the pricing of concurrent underwritten public offerings of 86,206,897 shares of its common stock, par value $0.01 per share, at a public offering price of $116.00 per share (the “common stock offering”) and $2,000,000,000 of its 7.000% notes due 2029, $1,750,000,000 of its 7.450% notes due 2031, $2,250,000,000 of its 7.850% notes due 2033, $2,500,000,000 of its 8.000% notes due 2037 and $1,500,000,000 of its 8.650% notes due 2046 (the “notes offering” and, together with the common stock offering, the “offerings”).

Each of the offerings is expected to close on November 4, 2026, subject to customary closing conditions. The completion of the common stock offering is not contingent on the completion of the notes offering, and the completion of the notes offering is not contingent on the completion of the common stock offering.

The net proceeds from the common stock offering will be approximately $9.9 billion, after deducting the underwriting discounts and Oracle’s estimated offering expenses. The net proceeds from the notes offering will be approximately $10.0 billion, after deducting the underwriting discounts and Oracle’s estimated offering expenses.

The net proceeds of the offerings, if completed, will be used for general corporate purposes, which may include capital expenditures, repayment of indebtedness, future investments or acquisitions and payment of cash dividends on or repurchases of our common stock.

BofA Securities is acting as sole global coordinator of the offerings. Wells Fargo Securities, Citigroup, BNP PARIBAS, Deutsche Bank Securities, J.P. Morgan, PNC Capital Markets LLC, Goldman Sachs & Co. LLC, HSBC and SMBC Nikko are acting as joint book-running managers of the offerings. BTIG is a joint book-running manager of the common stock offering. U.S. Bancorp is a joint book-running manager of the notes offering. Lloyds Securities is a joint book-running manager of the notes offering and a co-manager of the common stock offering. Intesa Sanpaolo, Mizuho, MUFG, TD Securities, Santander, BNY Capital Markets, CIBC Capital Markets and ING are acting as co-managers of the offerings. Standard Chartered Bank is a co-manager of the notes offering.

Registration Statement and Prospectus

Oracle has filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offerings to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Oracle has filed with the SEC for more complete information about Oracle and the offerings. The offerings may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the registration statement, preliminary prospectus supplement and accompanying prospectus related to each of the offerings can be obtained by visiting the SEC’s website at https://www.sec.gov or by contacting BofA Securities, Inc., Telephone: 1-800-294-1322.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud.

“Safe Harbor” Statement: Statements in this press release relating to the anticipated use of the net proceeds from the offerings; our ability to complete the offerings on the anticipated timeline or at all; and other characterizations of future events and circumstances are “forward-looking statements” and are subject to material risks and uncertainties. All information set forth in this press release is current as of November 2, 2026. Oracle undertakes no duty to update any statement in light of new information or future events.

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SOURCE Oracle

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