Webull has reached a binding agreement with special purpose acquisition company (Spac) SK Growth Opportunities and intends to list on the Nasdaq in the latter part of the year.

Using the money they raise from initial public offerings (IPOs), Spacs combine with a private business to become public. Fintech companies like Payoneer, SoFi, and BillTrust made the practice popular in 2020; however, because to regulatory issues, it has become much less widespread during the previous two years.

Webulll was founded in the US in 2018 and is currently active in Latin America, Europe, and Asia Pacific. It boasts 20 million registered users and about $370 billion in equity notional volumes.

Webull's CEO, Anquan Wang, states: "Webull has achieved a major milestone with the business combination with SK Growth." We think that SK Growth's cooperation and experience are a perfect fit with our long-term goal of making Webull the go-to platform for the next wave of investors around the world."