Wu Tianhua on market penetration
From Tiger Brokers CEO confident of further growth in the Singapore market · · CNBC International Live
“In Singapore, more than 50% of our total client assets are based here, and one in every three permanent residents is a user of our platform.”
On , Wu Tianhua, Founder & CEO at TigerBroker, spoke about market penetration during Tiger Brokers CEO confident of further growth in the Singapore market on CNBC International Live.
About Wu Tianhua
In a June 2024 interview, Tiger Brokers CEO Ian Leong stated that Singapore accounts for more than 50% of the company's total client assets and that one in every three Singapore permanent residents is a user of the platform. He attributed the company's growth since its 2020 launch during the COVID-19 period to a streamlined onboarding process of under five minutes and competitive fees. Leong expressed confidence in further growth through technology and a multiproduct strategy, noting that Tiger Brokers is currently the top online broker in Singapore. Leong highlighted product innovations in the first half of 2024, including the launch of a debit card for brokers in the region, 24-hour US trading, and a cash boost account. Addressing concerns about post-COVID slowdown, he said that platform support remained strong and that the company recorded its highest revenue in three years in the first quarter of 2024.