YAX Receives Digital Asset Trading Platform License From Hong Kong SFC

HONG KONG, Jan. 27, 2025 /PRNewswire/ -- Tiger Brokers (HK) Global Limited ("Tiger Brokers (HK)") is pleased to announce that YAX (Hong Kong) ("YAX"), a wholly-owned subsidiary of Tiger Brokers, today received Type 1 (dealing in securities) and Type 7 (automated trading service (ATS)) licenses from the Hong Kong Securities and Futures Commission (HKSFC). YAX has obtained official licensing as a virtual asset trading platform operator in Hong Kong and has been authorized to extend its operations to include retail business. YAX is dedicated to delivering holistic virtual asset services to the public, guaranteeing the security and reliability of virtual asset transactions, and protecting the assets of its users.

Upon its official launch, the platform will enable clients to custody and trade cryptocurrencies, providing a one-stop asset management experience. YAX offers secure and reliable custodial services, ensuring the comprehensive protection of digital assets, while facilitating smooth and efficient trading to optimize capital flow.

In addition, YAX prioritizes user security alongside its commitment to innovation. The platform employs robust security measures, including the effective segregation of client funds from YAX Exchange's operations and protection through institutional-grade custody insurance, ensuring the safety of user accounts and assets.

Wu Tianhua, CEO and Co-Founder of Tiger Brokers, said, "The global virtual asset sector has rapidly developed in recent years, showing immense potential. Cryptocurrencies are a key future investment trend. The establishment of YAX not only demonstrates our confidence in the potential of the market, but also showcases our firm commitment to creating a transparent and secure trading environment. In recent years, Tiger Brokers has actively promoted the development of virtual assets, fostering a prosperous virtual asset ecosystem in Hong Kong and helping the city become a global center for virtual asset trading."

Kelvin Liu Kai, CEO of YAX (Hong Kong) Limited, said, "As a pioneer of innovation, YAX is committed to providing users with a safer, more efficient, and open trading platform while addressing various challenges in cryptocurrency trading. Today, we have been granted the virtual asset trading platform operator license from the Hong Kong Securities and Futures Commission, a recognition of the strength of our company. In the future, we will focus on enhancing trading speed, reducing custodial risks, and ensuring transparency and security in the trading process to create the best trading experience possible for our users."

About Tiger Brokers (HK)

Tiger Brokers (HK) Global Limited (Central number: BMU940) holds type 1, 2, 4, 5 and 9 licenses of the Securities and Futures Commission. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers' flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.

About YAX (Hong Kong)

YAX (Hong Kong) Limited (CE Reference: BUT913) is a wholly-owned subsidiary of Tiger Brokers, a Nasdaq-listed company headquartered in Singapore

YAX is a premier cryptocurrency exchange platform designed to simplify access and valuation of digital assets for its users. The platform integrates advanced security measures to ensure the segregation and protection of customer funds. Additionally, institutional-grade custody insurance is in place to guarantee the safety of user accounts and assets, reinforcing trust and reliability.

For more details, please visit the YAX website: https://www.yax.hk/.

About Tiger Brokers

Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage group with a focus on redefining global investing with technologies for the next generation.

Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage group.

We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services accessible to all with low latency.

Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform "Tiger Trade", own 77 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.