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Hong Kong’s largest online broker, Futu Securities International, has launched crypto trading, targeting retail investors with enticing rewards such as shares in Alibaba and Nvidia.
Futu Securities International is the first online broker in Hong Kong to offer crypto trading services to retail investors, reinforcing Hong Kong’s ambitions to become a global crypto hub.
According to a South China Morning Post <a href="https://www.scmp.com/tech/tech-trends/article/3272822/online-brokerage-futu-offers-crypto-trading-hong-kong-nvidia-alibaba-stock-reward" target="_blank" rel="noopener noreferrer nofollow">report</a>, Futu now allows its clients to trade Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) directly on its platform using either Hong Kong or U.S. dollars. This move follows Futu’s recent securities license <a href="https://www.globenewswire.com/news-release/2024/07/08/2909465/0/en/Futu-Announces-Uplift-of-Type-1-License-to-Include-Virtual-Asset-Dealing-Service.html" target="_blank" rel="noopener noreferrer nofollow">upgrade</a> from the Securities and Futures Commission, which permits it to provide crypto-related services to both professional and retail clients.
<h2 class="wp-block-heading" id="crypto-competition-intensifies-in-hong-kong">Crypto competition intensifies in Hong Kong</h2>
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As part of its promotional strategy, Futu is offering incentives to attract retail investors. Customers engaging in crypto trading on the platform can receive shares in Alibaba or Nvidia. Additionally, the company is eliminating commission fees on crypto transactions, making the offer even more appealing to potential users.
Although Futu isn’t the first to launch crypto trading in Hong Kong, it sets itself apart by targeting retail investors. Tiger Brokers, its rival, also <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;ved=2ahUKEwiju4uq7tOHAxXeQ0EAHS4zDckQFnoECDwQAQ&amp;url=https%3A%2F%2Fwww.prnewswire.com%2Fin%2Fnews-releases%2Ftiger-brokers-hk-officially-launches-virtual-asset-trading-services-leading-the-way-in-hong-kongs-online-brokerage-industry-302136683.html&amp;usg=AOvVaw0FCCsf_D4bGjd8_5Vs7u6B&amp;opi=89978449" target="_blank" rel="noopener noreferrer nofollow">began</a> offering crypto trading services in May but limited them to professional clients only.
Read more: <a href="https://crypto.news/hong-kong-politician-johnny-ng-supports-bitcoin-reserve-web3-adoption/" rel="noopener noreferrer nofollow"> Hong Kong legislator Johnny Ng advocates for Bitcoin, web3 development </a>

Futu Securities launches crypto trading for Hong Kong retail investors: report

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