Tiger Brokers eyes foreign riches in bid to propel growth
HONG KONG: China’s Tiger Brokers is setting its sights on Singapore’s riches for a revenue boost as it continues to shift away from its home market after a regulatory crackdown.

The firm, formally known as Up Fintech Holding Ltd, is hoping to double its revenue in Singapore over the next one to two years as it taps the “sophisticated and rich,” including high-net-worth individuals, family offices and hedge funds, founder and chief executive officer Wu Tianhua said in an interview this week.

Singapore is an international financial centre that can connect wealth across the globe, Wu said in a video call from Beijing. “We see a lot of growth potential in the country. It’s the central pivot of our internationalisation.”

About one in every three adults in Singapore is a registered user of Tiger Brokers, according to Wu.

The city-state is now the firm’s global headquarter and its single largest market in terms of client assets and revenue contribution, he said, declining to disclose the detailed breakdown.

The firm’s total revenue jumped 21% to US$272.5mil last year, according to its annual report.

The balance on its client accounts more than doubled to US$30.6bil. — Bloomberg
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China’s Tiger Brokers is setting its sights on Singapore’s riches for a revenue boost as it continues to shift away from its home market after a regulatory crackdown.