RedotPay Integrates Arbitrum to Transform Payment Solutions
HONG KONG, HONG KONG, February 25, 2025 / EINPresswire.com / -- Hong Kong, Feb 24, 2025 – RedotPay, a leading crypto payment fintech, today announced a strategic integration with Arbitrum, a leading layer-2 scaling solution for Ethereum. This integration aims to enhance the payment capabilities within the Arbitrum ecosystem, providing users with a seamless and efficient transaction experience.
Empowering the Arbitrum Ecosystem with Enhanced Payment Solutions
Through this integration, RedotPay will introduce a robust payment gateway tailored for the Arbitrum ecosystem. This initiative is designed to increase the adoption of the Arbitrum chain while simultaneously boosting RedotPay's payment services.
Key benefits of this integration include:
High-Speed Reliable Services: Users will benefit from RedotPay's advanced technology, ensuring transactions are processed swiftly and reliably within the Arbitrum network.
Expanded Ecosystem Access: This integration enhances payment capabilities across the Arbitrum network, driving wider adoption and utility.
'Launching on Arbitrum is a significant step forward for RedotPay,' said Jackee Wong, Global Marketing Director of RedotPay. 'This integration not only supports the growth of the Arbitrum ecosystem but also empowers our users with faster and more reliable payment options that enhance their overall experience.'
'RedotPay's integration with Arbitrum demonstrates how our technology can support efficient payment solutions,' said Nina Rong, Head of Partnerships at Arbitrum Foundation. 'This collaboration showcases how Arbitrum's infrastructure can help power reliable, high-speed transactions while maintaining the robust performance standards payment providers require. We're excited to see RedotPay leverage our network to enhance payment capabilities in the blockchain ecosystem.'
About RedotPay
RedotPay is a leading crypto fintech bridging Web3 and traditional finance with innovative, cost-efficient blockchain solutions. Their intuitive crypto payment products enable millions of users globally to easily spend and send digital assets. They foster financial inclusion for the unbanked and serve crypto enthusiasts alike, advancing global adoption of fast and accessible crypto payments.
Arbitrum is a customizable, interoperable set of solutions designed to bring businesses and people onchain. Its flagship blockchain, Arbitrum One, dominates L2 TVL with deep liquidity and streamlined deployment capabilities, powering dApp innovation across DeFi, DePIN, AI, gaming, and other verticals.
Media Contacts
RedotPay
Jackee Wong
Wanda Barbara Pawlowska
RedotPay
X
LinkedIn
Instagram
YouTube
Other
Legal Disclaimer:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Bitcoin's Market Cap Is Now Higher Than These 3 Tech Giants. Can It Still Soar Higher?
In the past five years, Bitcoin has risen by more than 1,000%, eclipsing some of the world's most valuable companies. It would need to rise by 57% to become more valuable than any company's current market cap. Some bulls believe there are far greater gains to come for Bitcoin's long-term investors. 10 stocks we like better than Bitcoin › Bitcoin (CRYPTO: BTC) has hit record levels in May as the bullishness around the top cryptocurrency remains strong. After sliding earlier this year, during the past three months, it has rallied by about 30%. With a market cap of more than $2.1 trillion (as of May 29), it is far and away the most valuable digital currency. Ethereum, with a market cap of around $320 billion, is a distant second place. The original crypto remains the default option for investors who want exposure to cryptocurrency. Some investors view it as a form of digital gold while others like it for its scarcity, or simply its overall popularity and its rising adoption. But while Bitcoin has soared in value, its market cap has also risen beyond those of many of the best blue chip companies. Is that a sign that it is overvalued and approaching a peak, or is there still room for the cryptocurrency to go even higher? Over the past five years, Bitcoin has generated far better returns for investors than the broad stock market. During that time frame, it has risen by more than 1,000%. The S&P 500, by comparison, has increased in value by only 91%. Even the Technology Select Sector SPDR Fund, which gives investors focused exposure to tech stocks, is only up by 134%. The digital currency now has a market cap that equals or exceeds some of the world's most dominant companies: Amazon: $2.1 trillion Alphabet: $2.1 trillion Meta Platforms: $1.6 trillion Currently, the most valuable company in the world is Microsoft, with a market cap of $3.4 trillion. For Bitcoin to reach that level, it would need to rise by about 57% to roughly $168,000 per coin. Based on some analysts' forecasts, it will not only hit that level, but will dwarf it. If your opinion is that in the long view, Bitcoin will change the world and revolutionize how payments are made, then your expectations could be sky high. Cathie Wood's firm Ark Invest projects that Bitcoin could hit $1.5 million by 2030, which would be a gain of nearly 1,300% from where it is today. MicroStrategy Executive Chairman Michael Saylor is also incredibly optimistic about Bitcoin and believes that by 2045, the digital currency's price could top $13 million. Investors, however, should remember that those two are among the most bullish Bitcoin investors, and their price targets will always be incredibly optimistic. Take them with a grain of salt. When the crypto market is on an upswing, it's easy to be bullish and expect that Bitcoin will only keep rising in value. With Bitcoin's market cap higher than some of the top companies in the world, investors should be thinking twice about whether the cryptocurrency has become inflated in value. I believe it has, and that a significant correction could be overdue. In a crypto world where there are thousands of coins to choose from and where Bitcoin really holds no sustainable competitive advantage over other cryptocurrencies in terms of use cases, I believe it has become grossly overvalued. Its big advantage today is that it is simply the most popular and recognizable coin, but that doesn't mean it will stay that way. Even if the crypto market as a whole may rise in value over time, that doesn't necessarily mean Bitcoin will. Newer and better coins could gain ground over time. I wouldn't buy Bitcoin now because it's a highly speculative asset to own, but if you're inclined to do so, I'd suggest allocating only a modest amount of your portfolio toward it in order to minimize your overall risk. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,263!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Bitcoin, Ethereum, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Bitcoin's Market Cap Is Now Higher Than These 3 Tech Giants. Can It Still Soar Higher? was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Bitcoin Is Surging, but Not All Cryptocurrencies Are a Safe Investment. Here Are 3 to Avoid
Dogecoin is still a highly speculative meme coin with little chance of ever repeating its performance of 2021. Cardano, once viewed as a high-end Ethereum challenger, is having trouble gaining traction and currently trades for less than $1. Litecoin is still languishing well below its all-time high from 2021, and may not get its much-anticipated spot ETF until the end of 2025. 10 stocks we like better than Dogecoin › After a brief decline in March and April, Bitcoin (CRYPTO: BTC) is back. It's now up more than 12% for the year, and hit a new all-time high of $112,000 on May 22. Historically, a rally in Bitcoin has led to a rally across the entire crypto market. That's the good news. The bad news is that not all cryptocurrencies are going along for the ride. Here are three that I'm avoiding for now. Even after a stunning 24% rally during the past 30 days, Dogecoin (CRYPTO: DOGE) is still down 33% for the year. And, if you zoom out, things look even more worrisome for Dogecoin. Ever since it hit an all-time high in May 2021, this meme coin has never been the same. Dogecoin now trades for a paltry $0.21, and shows no signs of ever hitting the $1 mark. In fact, in more than a decade, Dogecoin has never traded higher than $0.74. Moreover, the best potential catalyst for Dogecoin price appreciation in 2025 -- Elon Musk's establishment of the Department of Government Efficiency (DOGE) -- now seems to be fading away. While there was never any link of any kind between DOGE the cryptocurrency and DOGE the government entity, the two somehow got blended together in the minds of many investors. If exciting things are happening at DOGE, exciting things are supposed to be happening for DOGE. That's the way meme coins work -- they're all hype and buzz, but no substance. Musk famously referred to himself as "The Dogefather" in 2021, and has hinted on social media on more than one occasion that he would be bringing big things to Dogecoin. These hints intensified after he acquired Twitter (now called X). But now we can safely put that narrative to rest. Cardano (CRYPTO: ADA) is another cryptocurrency that got a lot of buzz during the previous altcoin rally in 2020-2021. But it has also struggled to do anything during the past four years. Cardano is still trading for less than $1, years after it hit an all-time high of $3.10 in September 2021. Granted, there are glints and glimmers of a big Cardano comeback, but I just don't see it happening anytime soon. Even Charles Hoskinson, the founder of Cardano, has admitted as much. As he sees it, Cardano is "stuck." It's just having too much difficulty gaining any sort of traction. Cardano was supposed to be the heir apparent to Ethereum (CRYPTO: ETH) as the premier Layer 1 blockchain network in the world. However, it has now been passed by other blockchain rivals, including Solana (CRYPTO: SOL). Finally, there's Litecoin (CRYPTO: LTC), which briefly reigned as the top-performing cryptocurrency of 2025. It did so on the basis of the expectation that it would become the first major cryptocurrency to get a new spot exchange-traded fund (ETF) in early 2025, similar to the ones created for Bitcoin in January 2024. But, alas, that looks like it's not happening anytime soon. According to industry ETF watchers, the soonest that the Securities and Exchange Commission is likely to approve a spot Litecoin ETF is now fourth-quarter 2025. Unfortunately, tariff uncertainty and the resulting macroeconomic confusion could force the SEC to put off any ETF approvals for the foreseeable future. Litecoin has been an underperformer for years. It's now trading 77% below its all-time high from May 2021. By way of comparison, cryptocurrencies such as Bitcoin have been soaring to new all-time highs. So, if you're absolutely salivating at the opportunity to invest in Litecoin at a "bargain" price below $100, might I suggest Bitcoin instead? Full disclaimer: At one time or another, I've held all three of these coins in my crypto portfolio. Each time, I've been burned and disappointed. All of them have promised game-changing innovations and the potential for huge price gains. But have they delivered? No. In fact, all three of these cryptocurrencies are trading well below their historical highs. All of them continue to underperform Bitcoin, the market bellwether. And all of them show little sign of turning things around anytime soon. As a result, you can safely avoid Dogecoin, Cardano, and Litecoin if you are looking to optimize your portfolio returns in 2025. Before you buy stock in Dogecoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Dogecoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,263!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Dominic Basulto has positions in Bitcoin, Cardano, Ethereum, and Solana. The Motley Fool has positions in and recommends Bitcoin, Cardano, Ethereum, and Solana. The Motley Fool has a disclosure policy. Bitcoin Is Surging, but Not All Cryptocurrencies Are a Safe Investment. Here Are 3 to Avoid was originally published by The Motley Fool
Yahoo
4 hours ago
- Yahoo
UP Fintech Holding Limited Reports Unaudited First Quarter 2025 Financial Results
SINGAPORE, May 30, 2025 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ: TIGR) ('UP Fintech' or the 'Company'), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the first quarter ended March 31, 2025. Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: 'The macro environment remained dynamic in the first quarter, our total revenues reached US$122.6 million, representing an increase of 55.3% year-over-year. Benefiting from our brand strength and continued investment in R&D, both our GAAP and non-GAAP net income saw impressive growth. Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, up 8.4% quarter over quarter and 146.7% year over year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech reached US$36.0 million, an increase of 18.3% sequentially and 145.0% from the same period last year. In the first quarter, we added 60,900 new customers with deposits, already achieving 40% of our yearly guidance of 150,000 new customers with deposits for 2025, and bringing our total number of customers with deposits at the end of the first quarter to 1,152,900, a 23.5% increase compared to the same quarter last year. Asset inflow remained strong, we saw net asset inflow of US$3.4 billion in the first quarter, of which the majority comes from retail users, combining with a US$776 million mark to market gain, led total account balance rose by 9.9% quarter over quarter and 39.5% year over year to US$45.9 billion, setting another historic high. We also achieved notable growth in Hong Kong, the average net asset inflows of new funded clients in Hong Kong during the first quarter were above US$30,000. In the first quarter, we continued to roll out new features aimed at enhancing the user experience across our platform. In Hong Kong, we introduced additional functionality on top of its existing virtual asset trading service. Retail investors can now deposit and withdraw cryptocurrency, such as Bitcoin and Ethereum, while professional investors are also able to deposit and withdraw USDT. Additionally, Tiger Brokers Hong Kong recently launched Delivery Versus Payment (DVP) functionality, which strengthens our ability to serve institutional and high-net-worth clients. We also introduced equity repo services to further enhance our securities lending and treasury management capabilities. In addition, we remain committed to improving our Tiger AI offering based on user feedback. It now supports portfolio and watchlist analysis, allowing users to more effectively identify investment opportunities, receive risk alerts on their holdings, and access actionable strategy suggestions. In our Corporate business, we underwrote 4 Hong Kong IPOs in the first quarter, including 'Chifeng Gold' and 'Nanshan Aluminum', and acted as distributor for 'Mixue Group', the largest Hong Kong IPO in the first quarter. In our ESOP business, we added 20 new clients in the first quarter, bringing the total number of ESOP clients served to 633 as of March 31, 2025.' Financial Highlights for First Quarter 2025 Total revenues were US$122.6 million, an increase of 55.3% year-over-year and a decrease of 1.2% quarter-over-quarter. Total net revenues were US$107.6 million, an increase of 67.7% year-over-year and an increase of 0.2% quarter-over-quarter. Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million compared to a net income of US$12.3 million in the same quarter of last year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$36.0 million, compared to a non-GAAP net income of US$14.7 million in the same quarter of last year. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below. Operating Highlights for First Quarter 2025 Total account balance increased 39.5% year-over-year to US$45.9 billion. Total margin financing and securities lending balance increased 89.4% year-over-year to US$5.2 billion. Total number of customers with deposit increased 23.5% year-over-year to 1,152,900. Selected Operating Data for First Quarter 2025 As of and for the three months ended March 31, December 31, March 31, 2024 2024 2025 In 000's Number of customer accounts 2,247.4 2,449.3 2,526.7 Number of customers with deposits 933.4 1,092.0 1,152.9 Number of options and futures contracts traded 10,850.3 18,926.3 20,400.7 In USD millions Trading volume 85,410.6 198,016.9 217,453.6 Trading volume of stocks 28,606.3 55,502.6 59,453.4 Total account balance 32,872.1 41,725.2 45,861.9 First Quarter 2025 Financial Results Total revenues were US$122.6 million, an increase of 55.3% from US$78.9 million in the same quarter of last year. Commissions were US$58.3 million, an increase of 109.8% from US$27.8 million in the same quarter of last year, due to an increase in trading volume. Financing service fees were US$2.6 million, a decrease of 9.6% from US$2.8 million in the same quarter of last year, primarily due to a decrease of the account balance of our fully disclosed account customers. Interest income was US$53.8 million, an increase of 22.7% from US$43.8 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers. Other revenues were US$7.9 million, an increase of 76.8% from US$4.5 million in the same quarter of last year, primarily due to an increase in currency exchange income and wealth management income. Interest expense was US$15.0 million, an increase of 1.7% from US$14.8 million in the same quarter of last year, primarily due to the increase in funding for margin financing operating costs and expenses were US$67.1 million, an increase of 32.1% from US$50.8 million in the same quarter of last year. Execution and clearing expenses were US$5.3 million, an increase of 139.3% from US$2.2 million in the same quarter of last year due to an increase in our trading volume. Employee compensation and benefits expenses were US$33.8 million, an increase of 21.7% from US$27.8 million in the same quarter of last year, primarily due to an increase of global headcount to support our global expansion. Occupancy, depreciation and amortization expenses were US$2.1 million, a slight increase of 0.2% from US$2.1 million in the same quarter of last year. Communication and market data expenses were US$9.8 million, an increase of 14.4% from US$8.6 million in the same quarter of last year due to increased IT-related service fees. Marketing and branding expenses were US$10.9 million, an increase of 147.5% from US$4.4 million in the same quarter of last year, primarily due to higher marketing spending this quarter. General and administrative expenses were US$5.1 million, a decrease of 9.4% from US$5.7 million in the same quarter of last year due to a decrease in professional service income attributable to ordinary shareholders of UP Fintech was US$30.4 million, as compared to a net income of US$12.3 million in the same quarter of last year. Net income per ADS – diluted was US$0.166, as compared to a net income per ADS – diluted of US$0.077 in the same quarter of last year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US$36.0 million, as compared to a US$14.7 million non-GAAP net income attributable to ordinary shareholders of UP Fintech in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.198 as compared to a non-GAAP net income per ADS – diluted of US$0.092 in the same quarter of last year. For the first quarter of 2025, the Company's weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 184,472,928. As of March 31, 2025, the Company had a total of 2,649,914,037 Class A and B ordinary shares outstanding, or the equivalent of 176,660,936 of March 31, 2025, the Company's cash and cash equivalents, term deposits and long-term deposits were US$406.4 million, compared to US$396 million as of December 31, 2024. As of March 31, 2025, the allowance for doubtful accounts on receivables from customers was US$14.8 million compared to US$15.3 million as of December 31, 2024. In December 2023, the Financial Accounting Standards Board ('FASB') issued Accounting Standards Update No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets ('ASU 2023-08'). ASU 2023-08 requires certain crypto assets to be measured at fair value separately on the balance sheet with changes reported in the statement of operations each reporting period. The Company adopted this guidance from January 1, 2025, and the Company recorded such crypto asset balance in Crypto assets held as of March 31, 2025, with a cumulative-effect adjustment of US$2.3 million to the opening balance of Retained earnings. Updates to Management and Directors Mr. Ming Liao departed from the position of Independent Director at the Company due to personal reasons, effective May 28, 2025. Mr. Liao's departure was not the result from any disagreement with the Company. Conference Call Information: UP Fintech's management will hold an earnings conference call at 8:00 AM on May 30, 2025, U.S. Eastern Time (8:00 PM on May 30, 2025, Singapore/Hong Kong Time). All participants wishing to attend the call must preregister online before receiving the dial-in number. Preregistration may take a few minutes to complete. Preregistration Information: Please note that all participants will need to pre-register for the conference call, using the link: It will automatically lead to the registration page of "UP Fintech Holding Limited First Quarter 2025 Earnings Conference Call", where details for RSVP are needed. Upon registering, all participants will be provided a confirmation email with a participant dial-in number and personal PIN to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information. Additionally, a live and archived webcast of the conference call will be available at Use of Non-GAAP Financial Measures In evaluating our business, we consider and use non-GAAP net income attributable to ordinary shareholders of UP Fintech and non-GAAP net income per ADS - diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles ('U.S. GAAP'). We define non-GAAP net income attributable to ordinary shareholders of UP Fintech as net income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net income per ADS - diluted is non-GAAP net income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors' assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited. These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. 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 enables 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. For more information on the Company, please visit: Safe Harbor Statement This announcement contains forward−looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as 'may,' 'might,' 'aim,' 'likely to,' 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates' and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company's strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company's plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ('SEC') on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company's revenues and certain cost or expense accounting policies; the cooperation relationships with our business partners and shareholders such as Interactive Brokers LLC and Xiaomi Corporation and its affiliates; and governmental policies and regulations affecting the Company's industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company's filings with the SEC, including the Company's annual report on Form 20-F filed with the SEC on April 23, 2025. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company's filings with the SEC. For investor and media inquiries please contact: Investor Relations Contact UP Fintech Holding Limited Email: ir@ FINTECH HOLDING LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in U.S. dollars ("US$")) As of December 31, As of March 31, 2024 2025 US$ US$ Assets: Cash and cash equivalents 393,576,874 403,891,218 Cash-segregated for regulatory purpose 2,464,683,625 2,849,477,420 Term deposits 1,075,260 1,101,083 Receivables from customers (net of allowance of US$15,284,002 and US$14,790,668 as of December 31, 2024 and March 31, 2025) 1,052,972,649 1,221,616,295 Receivables from brokers, dealers, and clearing organizations 2,305,740,507 2,556,498,087 Financial instruments held, at fair value 75,547,082 177,479,943 Prepaid expenses and other current assets 17,629,819 19,529,054 Amounts due from related parties 16,720,671 13,821,867 Total current assets 6,327,946,487 7,243,414,967 Non-current assets: Long-term deposits 1,369,994 1,378,037 Right-of-use assets 10,880,673 12,736,333 Property, equipment and intangible assets, net 15,358,528 15,750,823 Crypto assets held — 3,410,986 Goodwill 2,492,668 2,492,668 Long-term investments 7,658,809 7,473,531 Equity method investment 10,203,622 10,305,433 Other non-current assets 6,828,553 8,623,671 Deferred tax assets 8,573,135 9,931,234 Total non-current assets 63,365,982 72,102,716 Total assets 6,391,312,469 7,315,517,683 Current liabilities: Payables to customers 3,574,651,125 4,333,279,026 Payables to brokers, dealers and clearing organizations: 1,914,769,701 1,975,967,952 Accrued expenses and other current liabilities 67,263,254 75,891,783 Lease liabilities-current 4,153,928 4,845,376 Amounts due to related parties 874,331 53,588,763 Total current liabilities 5,561,712,339 6,443,572,900 Convertible bonds 159,505,397 160,158,584 Lease liabilities- non-current 5,902,323 6,992,755 Deferred tax liabilities 2,068,661 2,161,995 Total liabilities 5,729,188,720 6,612,886,234 Mezzanine equity Redeemable non-controlling interest 7,177,668 5,518,571 Total Mezzanine equity 7,177,668 5,518,571 Shareholders' equity: Class A ordinary shares 25,427 25,523 Class B ordinary shares 976 976 Additional paid-in capital 619,030,730 624,497,561 Statutory reserve 12,425,463 12,425,463 Retained earnings 37,843,547 70,712,884 Treasury stock (2,172,819 ) (2,172,819 ) Accumulated other comprehensive loss (11,919,310 ) (8,090,989 ) Total UP Fintech shareholders' equity 655,234,014 697,398,599 Non-controlling interests (287,933 ) (285,721 ) Total equity 654,946,081 697,112,878 Total liabilities, mezzanine equity and equity 6,391,312,469 7,315,517,683UP FINTECH HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (All amounts in U.S. dollars ("US$"), except for number of shares (or ADSs) and per share (or ADS) data) For the three months ended March 31, December 31, March 31, 2024 2024 2025 US$ US$ US$ Revenues: Commissions 27,786,218 55,964,174 58,307,151 Interest related income Financing service fees 2,832,065 2,770,419 2,560,432 Interest income 43,841,220 55,762,091 53,805,393 Other revenues 4,488,989 9,605,165 7,936,987 Total revenues 78,948,492 124,101,849 122,609,963 Interest expense (14,789,835 ) (16,731,341 ) (15,041,810 ) Total Net revenues 64,158,657 107,370,508 107,568,153 Operating costs and expenses: Execution and clearing (2,230,863 ) (6,095,132 ) (5,338,917 ) Employee compensation and benefits (27,787,218 ) (37,163,110 ) (33,805,808 ) Occupancy, depreciation and amortization (2,144,337 ) (2,137,586 ) (2,149,308 ) Communication and market data (8,561,482 ) (11,787,814 ) (9,794,869 ) Marketing and branding (4,390,987 ) (9,507,918 ) (10,867,048 ) General and administrative (5,667,137 ) (6,432,737 ) (5,136,346 ) Total operating costs and expenses (50,782,024 ) (73,124,297 ) (67,092,296 ) Other income (expense): Others, net 3,615,219 3,469,021 (1,340,064 ) Income before income tax 16,991,852 37,715,232 39,135,793 Income tax expenses (4,528,297 ) (9,488,084 ) (8,549,158 ) Net income 12,463,555 28,227,148 30,586,635 Less: net (loss) income attributable to non-controlling interests (17,914 ) 12,563 11,527 Accretion of redeemable non-controlling interests to redemption value (151,322 ) (164,328 ) (155,983 ) Net income attributable to ordinary shareholders of UP Fintech 12,330,147 28,050,257 30,419,125 Other comprehensive income (loss), net of tax: Unrealized gain on available-for-sale investments — 343,892 — Changes in cumulative foreign currency translation adjustment (4,791,040 ) (17,440,809 ) 3,826,640 Total Comprehensive income 7,672,515 11,130,231 34,413,275 Less: comprehensive (loss) income attributable to non-controlling interests (13,454 ) 24,226 9,845 Accretion of redeemable non-controlling interests to redemption value (151,322 ) (164,328 ) (155,983 ) Total Comprehensive income attributable to ordinary shareholders of UP Fintech 7,534,647 10,941,677 34,247,447 Net income per ordinary share: Basic 0.005 0.011 0.012 Diluted 0.005 0.011 0.011 Net income per ADS (1 ADS represents 15 Class A ordinary shares): Basic 0.079 0.164 0.173 Diluted 0.077 0.158 0.166 Weighted average number of ordinary shares used in calculating net income per ordinary share: Basic 2,342,468,897 2,557,911,677 2,634,972,699 Diluted 2,452,022,959 2,687,607,158 2,767,093,920Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures(All amounts in U.S. dollars ("US$"), except for number of ADSs and per ADS data) For the three months ended March 31,2024 For the three months ended December 31,2024 For the three months ended March 31,2025 non-GAAP non-GAAP non-GAAP GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP GAAP Adjustment non-GAAP US$ US$ US$ US$ US$ US$ US$ US$ US$ Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2,380,637 (1 ) 2,421,342 (1 ) 5,621,791 (1 ) Net income attributable to ordinary shareholders of UP Fintech 12,330,147 2,380,637 14,710,784 28,050,257 2,421,342 30,471,599 30,419,125 5,621,791 36,040,916 Net income per ADS - diluted 0.077 0.092 0.158 0.172 0.166 0.198 Weighted average number of ADSs used in calculating diluted net income per ADS 163,468,197 163,468,197 179,173,811 179,173,811 184,472,928 184,472,928 (1) Share-based in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
