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NEW YORK - Webull, a digital investment platform traded on NASDAQ under the ticker BULL, has partnered with Visa to integrate Visa Direct on its US platform, enabling real-time money movement for its users. The company, with a market capitalization of $6.7 billion, has shown strong momentum with a 27% price return over the past six months, according to InvestingPro data. The collaboration allows for immediate transfers between Webull brokerage accounts and external bank accounts, a significant shift from traditional methods like Automated Clearing House (ACH) transfers, which can take several days.
Group President and US CEO of Webull, Anthony Denier, emphasized the company’s commitment to enhancing financial access, stating that this partnership with Visa’s extensive network will improve opportunities within the financial markets. While the company maintains a robust gross profit margin of nearly 80%, InvestingPro analysis shows it’s currently operating at a loss, with negative EBITDA of $40.2 million in the last twelve months. He noted that the new feature would integrate technology into traditional financial services, benefiting Webull’s customers.
Yanilsa Gonzalez-Ore, SVP, North America Head at Visa Direct, commented on the existing expectations for immediacy in financial transactions. She pointed out that the collaboration with Webull would provide customers with the speed, flexibility, and security they expect from real-time payments, enhancing their ability to manage funds and confidently engage in investing and trading activities.
The press release stated that actual fund availability for Visa Direct transactions might vary based on several factors, including the receiving financial institution, account type, region, and compliance processes.
Webull is a global online investment platform that offers advanced tools and real-time market data to help users pursue financial goals. It provides low-cost trading across various assets and wealth management services. According to InvestingPro analysis, the stock currently trades above its Fair Value, with high price volatility being a key characteristic. Webull Financial LLC is registered with the SEC and CFTC and is a member of FINRA, NFA, and SIPC. Advisory accounts and services are offered through Webull Advisors LLC, an SEC-registered investment advisor.
The information for this article is based on a press release statement.
In other recent news, Webull has announced a significant collaboration with BlackRock to enhance its advisory services. This partnership aims to integrate model portfolio capabilities into Webull’s platform, offering a broader range of investment options to U.S. investors. Users will have access to diversified portfolios, including alternative and digital assets, managed by Webull Advisors. This move is part of Webull’s ongoing efforts to provide sophisticated, technology-driven investment opportunities. Additionally, Webull has completed its merger with SK Growth Opportunities Corporation, a strategic step that has garnered a positive response from investors. The merger is expected to provide Webull with additional resources and avenues for growth, as the company continues to expand its offerings and attract more users. Webull’s rapid growth, with $370 billion in equity notional volumes and 430 million options contracts traded in 2023, highlights its increasing popularity among retail investors. These developments underscore Webull’s commitment to enhancing its platform and meeting the growing demand for dynamic investment solutions.
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