Futu Securities International, Hong Kong’s largest online brokerage, has launched retail cryptocurrency trading services. This launch on August 1 allows users to trade Bitcoin (BTC) and Ethereum (ETH) using either Hong Kong or US dollars.
Futu secured an upgraded securities license from the Securities and Futures Commission (SFC), enabling it to offer virtual asset services to both professional and retail customers. To attract investors, Futu is offering incentives such as Bitcoin, supermarket vouchers, or shares in Alibaba and Nvidia for new account holders who meet certain deposit criteria.
This strategic move aligns with Hong Kong’s initiative to become a global hub for virtual assets, despite challenges like the exit of large global platforms and low trading activity in existing Bitcoin and Ethereum ETFs.
Amid a rising crypto bull market, Futu aims to capture the growing interest in digital assets, leveraging its new securities license to enhance its market position. This initiative marks a significant step in Hong Kong’s broader efforts to attract crypto businesses and investors.
