UP Fintech Holding Limited’s Hong Kong Subsidiary Receives SFC Approval on Type 9 License to Provide Asset Management Services

SINGAPORE, March 27, 2024 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that Hong Kong's Securities and Futures Commission (SFC) has officially granted a Type 9 license to Tiger Brokers (HK) Global Limited ("TBHK"), authorizing TBHK to provide asset management services, including discretionary accounts service to both retail clients and professional investors and asset management service to collective investment schemes offered to professional investors only. Mr. Yang Xu, the Head of Wealth Management business, stated that TBHK’s asset management services will feature a seasoned investment team adept in tactical asset allocation and long-term value investing, crafting bespoke asset allocation strategies for discretionary account retail clients, complemented by a user-friendly platform interface to facilitate wealth accumulation. Additionally, TBHK’s asset management team will provide comprehensive services for Hong Kong investment immigration, along with tailored investment strategies for managed accounts, and is set to offer a multifaceted fund service infrastructure in the future.

Over the past year since entering Hong Kong market, TBHK has garnered popularity among Hong Kong users with its optimized product offerings and one of the most competitive pricing. We charge zero commission and platform fee for Hong Kong equity trading, and launched Tiger Vault, our wealth management product, in the Hong Kong market, which offers USD and HKD denominated money market funds, as well as U.S. Treasury trading service to help our users manage their liquidity.  In terms of infrastructure, we have achieved fully self-clearing for U.S. and Hong Kong cash equities and U.S. options, which brings down our total clearing expense to an industry leading low level. We are also one of the few brokers that offers recurring investment and fractional shares trading feature for both U.S. and Hong Kong shares.

About UP Fintech Holding Limited

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enable investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.