UP Fintech reported record second-quarter revenue as trading activity accelerated across its international markets, with Singapore emerging as a particularly strong growth engine.
Revenue reached an all-time high of $182.3 million, up 31.4% year-over-year and 17.7% sequentially.
Non-GAAP net income attributable to shareholders reached $42.8 million, up 20% sequentially excluding the impact of a first-quarter penalty.
Total funded accounts increased 10.3% to 1.3 million after the company added another 32,600 funded clients.
Net retail asset inflows exceeded $1.5 billion during the quarter, helping total client assets increase 16.7% year-over-year to $60.7 billion.
Singapore produced some of the strongest engagement growth.
Total trading volume in the market increased 92% year-over-year, while orders rose 46%.
U.S. equity trading volume among Singapore clients jumped 114% sequentially, while the number of U.S. options trading accounts increased 69% year-over-year. Both reached record levels.
UP Fintech’s broader wealth and institutional operations also expanded rapidly.
Assets under custody in its Hong Kong Type 9 asset-management business increased 300.2% year-over-year.
TradingFront, its turnkey asset management platform, increased AUC 171.8%, while structured-product turnover jumped 490%.
Other revenue, including investment banking, ESOP and corporate services, increased 67.6% to $21 million.
UP Fintech continues integrating AI into its platform, including expanded TigerAI capabilities for commodity, equity-index and foreign-exchange futures.
KEY QUOTE:
“Our globally focused growth strategy continued to gain momentum in Q2, with client assets increasing sequentially across all global markets.”
Wu Tianhua, Founder and CEO of UP Fintech
