Futtsu SecuritiesHong Kong’s largest online brokerage, with over 3.5 million customers, has launched retail Bitcoin trading on its platform. South China Morning PostUsers can now buy and sell Bitcoin and Ethereum directly using either Hong Kong Dollars or US Dollars.
Latest Update: ðŸ‡ðŸ‡°Hong Kong’s largest online broker Futu #Bitcoin Cryptocurrency trading. pic.twitter.com/sGDxbx83is
— Bitcoin Magazine (@BitcoinMagazine) August 1, 2024
Futu, Hong Kong The company offers retail investors direct access to Bitcoin and last month it was granted authorisation by the London Securities and Futures Commission (SFC) to offer crypto-asset trading services.
This movement Hong Kong Recognition Hong Kong launched bitcoin and ethereum exchange-traded funds earlier this year, and with new licensing for exchanges and other policy initiatives, the city is aiming to establish itself as a bitcoin and cryptocurrency hub.
Futu has overtaken rivals by allowing retail bitcoin trading on its main app. The company has also applied for a full bitcoin and cryptocurrency trading license for its PantherTrade platform, one of 11 “deemed authorized” provisional exchanges in Hong Kong awaiting SFC approval.
Futu offers incentives such as Alibaba and Nvidia shares as rewards to attract new Bitcoin and cryptocurrency users. Customers who deposit HK$10,000 for 60 days will receive HK$600 worth of Bitcoin or vouchers and shares. Larger depositors will receive more rewards.
Futu is currently waiving Bitcoin transaction fees in a bid to gain market share. The company has partnered with licensed exchange HashKey to enable trading under SFC regulations.
Futu will leverage its large customer base to Bitcoin Trading in Hong Kong. The brand name gave the Bitcoin platform instant credibility and trust.
