September 2, 2024, 19:33 – Foresight News
Tiger Brokers, a leading financial services company, has reported impressive financial results for the second quarter ending June 30, 2024. The unaudited financial data reveals that Tiger International’s revenue for the quarter surged to $87.44 million, marking a 10.8% increase quarter-on-quarter and a 32.4% jump year-on-year, setting a new historical high.
Expansion into Virtual Asset Trading
In a significant move, Tiger Brokers has successfully expanded its virtual asset trading services. The company received approval in June to extend its virtual asset trading license to retail clients in Hong Kong. This expansion comes as part of Tiger Brokers’ continuous effort to diversify its offerings and cater to the evolving needs of its clients.
Support for 18 Virtual Assets
With this expansion, Tiger Brokers now supports trading in 18 different virtual assets. These include the world’s most popular cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), among others. The platform has been enhanced to facilitate instant trading and settlement in US dollars for these virtual assets, providing users with a seamless and efficient trading experience.
Double-Free Promotion
To attract more users and encourage trading, Tiger Brokers has introduced a double-free promotion. This offer waives both the commission and platform fees, making it more cost-effective for traders to engage in virtual asset transactions. This initiative is part of the company’s strategy to incentivize trading and build a loyal customer base.
Market Performance
The growth in virtual asset trading is part of a broader trend in the financial industry. According to recent reports, the market has seen significant activity, with platforms like Nubit launching initiatives to bridge the gap between Web2 and Web3. Nubit’s Minichain solution aims to seamlessly integrate the two worlds, opening up new possibilities for developers and users in the digital era.
Additionally, platforms like Pump.fun and Polymarket have experienced exponential growth, with both surpassing $100 million in revenue. This surge in activity indicates a strong demand for virtual assets and the need for reliable and user-friendly trading platforms.
AI in Crypto Trading
The intersection of technology and finance continues to evolve, with AI now playing a pivotal role in the trading of cryptocurrencies. Coinbase, a leading cryptocurrency exchange, has facilitated the first AI-agent-assisted crypto trade, signaling the dawn of an AI-driven era in cryptocurrency trading. This development is expected to revolutionize the way trading is conducted, making it more efficient and accessible.
Conclusion
Tiger Brokers’ financial report highlights the company’s successful expansion into virtual asset trading. By supporting 18 virtual assets, including BTC and ETH, and offering a seamless trading experience, Tiger Brokers is well-positioned to capitalize on the growing interest in cryptocurrencies. The introduction of the double-free promotion further underscores the company’s commitment to attracting and retaining customers in this dynamic market.
As the financial landscape continues to evolve, Tiger Brokers is set to play a significant role in the virtual asset trading space, offering innovative solutions and services that cater to the needs of modern traders.
Source: Foresight News
Date: September 2, 2024
Time: 19:33
Author: [Your Name]
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