Moomoo’s Market Share in the US and Singapore Markets Grew Steadily With Australia as the Next StopPALO ALTO, Calif.
Moomoo, the next-generation one-stop digital financial service platform headquartered in Silicon Valley, has made several breakthroughs in its internationalization venture. This year, moomoo has steadily increased its market share in the US and Singapore markets and officially entered the Australia market to provide premium financial services.
As of Q4 2021, moomoo and its brand affiliates hold 44 licenses in the US, Singapore, Australia, Hong Kong SAR, and other international markets. Together with its sister product, moomoo boasts over 17 million users worldwide, covering over 200 countries and regions.
In the US, moomoo has become a well-recognized online trading platform for local investors, and has partnered with Yahoo Finance to be the exclusive title sponsor of the 2021 Berkshire Hathaway Annual Shareholders Meeting. In the fourth quarter, moomoo was also named the “Best For Active Traders 2021” by Benzinga, a well-known US financial website.
March 8, 2022 marks the first anniversary of moomoo’s entry into Singapore. Moomoo has seen tremendous growth in Singapore and a soaring user base this year. Based on Population Pyramid’s population statistics of Singapore in 2021, moomoo’s users in Singapore accounted for 1/10 of the adult population aged over 20 as of fourth quarter 2021. At the same time, moomoo continuously attracts high-income and highly-educated users in Singapore, with the asset volume of Moomoo Inc.’s affiliates in Singapore up 25.7% QoQ.
Having Taken the US and Singapore markets by storm, moomoo has also set its sights on yet another important international market—Australia. Officially launched on March 8, moomoo offers Australian investors premium online trading services. This is also the third global market that moomoo has entered after the US and Singapore and through which moomoo is expecting to further enhance its international visibility and influence.
In addition to providing investment services through brokerage firms, moomoo has also integrated social features into its platform, creating a user-centered online interactive community that connect individual investors worldwide.
In the US, for example, moomoo has attracted a large number of young investors with its unique user experience and social features. They are accustomed to using online trading platforms and are increasingly aware of how important an active investment community is in investment decision-making. On trading days in 2021, an average moomoo user in the US opens the App more than 20 times per day and spends as long as 48 minutes on the moomoo App, making the US market the most vibrant one in terms of usage frequency and user activeness.
At present, moomoo has become an important platform for global investors to learn and exchange ideas. Users from different markets, such as the US and Singapore, follow the latest developments of listed companies via the moomoo platform, discuss hot topics, and share investment experiences.
On the moomoo platform, US investors mainly focus on large tech stocks such as Apple, Tesla, and Amazon, as well as meme stocks such as GME and AMC, which were a big hit last year. Singaporean investors focus not only on these large tech stocks but also on popular Chinese stocks such as Tencent and Alibaba. Moomoo allows investors from different markets to exchange and share views with each other, conveying to investors a sense of human touch and offering more interactions.
Recently, the holding company of Moomoo Inc. and an advanced fintech company, Futu Holdings Limited (“Futu”), released its fourth-quarter and full-year 2021 unaudited financial results. Founded in Hong Kong in 2012, Futu’s subsidiary in Hong Kong has become one of the largest retail brokerages in Hong Kong. Futu was listed on the NASDAQ on March 8, 2019.
Since its IPO, Futu has seen robust business growth and is well recognized and supported by major global investment institutions. Futu’s strategic investors include Tencent, Matrix Partners, and Sequoia, with Tencent leading three consecutive funding rounds. Its major institutional shareholders include Capital Research and Management, Tiger Global, and other top international investment institutions.
In April 2021, Futu announced the completion of the offering of 10,925,000 American depositary shares (the “ADSs”), raising approximately $1.4billion. Part of the proceeds will fund moomoo’s product development to continuously improve user experience and drive its global business extension. In the future, moomoo will see more growth opportunities in international markets.
For more information about Futu’s Q4 and full-year 2021 financial results, please visit the following link: https://ir.futuholdings.com/news-releases/news-release-details/futu-announces-fourth-quarter-and-full-year-2021-unaudited
Moomoo is a next-generation one-stop digital financial service platform created by Moomoo Inc., a fintech company based in Palo Alto, California.
Moomoo integrates trading, market data, social networking with advanced features, such as AI-powered analytics and anomaly detection functions. It supports free online account-opening and provides access to the trading of stocks and ETFs in multiple global markets such as the United States, Hong Kong SAR, Singapore, and Australia. Moomoo and its brand affiliates also offer rich investor education content and an interactive online community with 17 million users in more than 200 countries globally.
Moomoo’s holding company is the Nasdaq-listed fintech company Futu Holdings Limited (“Futu”), which is headquartered in Hong Kong. Futu is also one of the largest brokerages in Hong Kong. On March 8, 2019, Futu was listed on the Nasdaq (symbol: FUTU).
For more information, please visit the moomoo official website at www.moomoo.com.
SOURCE: moomoo Inc.