Futu Securities International Launches Cryptocurrency Trading Services

Futu Securities International Expands into Cryptocurrency Trading

Futu Securities International, a prominent online stock broker based in Hong Kong, has recently made headlines by launching trading services for bitcoin (BTC) and ether (ETH). This initiative is part of a broader strategy to enhance its offerings and attract new clients. In a compelling promotion, the company is providing shares of major players like Alibaba Group (BABA) and AI chipmaker Nvidia (NVDA) as rewards for clients who open new accounts and deposit specified amounts of funds, as reported by the South China Morning Post.

Futu, which prides itself on being Hong Kong’s largest technology broker, is actively working on expanding its cryptocurrency offerings in the near future. Currently, the company has waived commission fees to encourage participation. As of March 31, Futu boasted an impressive 22.5 million registered users, including 1.9 million active paying clients, according to information available on its website.

For the month of August, Hong Kong investors who open accounts and deposit HK$10,000 (approximately $1,280) within 60 days can choose from a selection of rewards, including:

• Bitcoin valued at HK$600
• A HK$400 supermarket voucher
• A single share of Alibaba

Furthermore, investors who deposit a more substantial amount of HK$80,000 have the option to select either:

• HK$1,000 worth of bitcoin
• A share of Nvidia

This new crypto trading service is made possible through a strategic partnership with HashKey Exchange, one of only two licensed cryptocurrency exchanges operating in Hong Kong. In addition, Futu is pursuing a license to offer similar crypto trading services through its subsidiary, Panthertrade. Currently, Panthertrade is recognized as “deemed-to-be-licensed” by Hong Kong’s Securities and Futures Commission, allowing it to provide cryptocurrency services while it awaits full regulatory approval.

This move aligns with Hong Kong’s broader ambition to position itself as a global hub for the cryptocurrency industry. The region has recently taken steps to support digital assets, including the introduction of spot crypto exchange-traded products, signaling a welcoming environment for crypto investors and businesses alike.