Futu Securities Launches Retail Bitcoin Trading, Hong Kong's Biggest Online Brokerage with over 3.5 Million Customers

Futu is the first online broker in Hong Kong to offer direct Bitcoin access to retail investors. Last month, the company received approval from the city's Securities

Hong Kong's largest online brokerage, Futu Securities, has now launched retail Bitcoin trading on its platform, making it the first online broker in the city to offer direct Bitcoin access to retail investors.

According to a report by the South China Morning Post, Futu users can now directly buy and sell Bitcoin and ether using either Hong Kong or US dollars.

Back in May, Futu had received approval from the Securities and Futures Commission (SFC) to provide virtual asset dealing services.

This development follows Hong Kong's approval of a Bitcoin and Ethereum exchange-traded fund earlier this year. The city is also aiming to position itself as a Bitcoin and crypto hub with a new licensing regime for exchanges and other policy initiatives.

By offering retail Bitcoin trading on its main app, Futu is gaining an edge over its competitors. The company has also applied for a full Bitcoin and crypto exchange license for its PantherTrade platform, which is among the 11 “deemed licensed” interim exchanges in Hong Kong awaiting SFC approval.

To attract new Bitcoin and crypto users, Futu is offering incentives such as Alibaba and Nvidia stock as rewards. Customers who deposit HK$10,000 for 60 days will get HK$600 of Bitcoin or vouchers and shares. Larger depositors can earn greater rewards.

For now, Futu is also waiving Bitcoin trading commissions in a bid to gain market share. The company is partnering with licensed exchange HashKey to enable trading under SFC rules.

Mit seinem großen Kundenstamm ist Futu einzigartig positioniert, um ein erhebliches Einzelhandelsvolumen für den Bitcoin-Handel in Hongkong zu generieren. Sein Markenname verleiht seiner Bitcoin-Plattform außerdem sofortige Glaubwürdigkeit und Vertrauen.

The above is the detailed content of Futu Securities Launches Retail Bitcoin Trading, Hong Kong's Biggest Online Brokerage with over 3.5 Million Customers. For more information, please follow other related articles on the PHP Chinese website!