Hong Kong’s Largest Online Broker Introduces Retail Bitcoin Trading
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Futu Securities, Hong Kong's largest online broker, has introduced retail Bitcoin (BTC) trading on its platform.
According to the South China Morning Post, users can now buy and sell Bitcoin and Ethereum using Hong Kong or US dollars directly on Futu’s app.
Futu thus becomes the first online broker in Hong Kong to provide direct Bitcoin trading for retail investors.
This launch follows Hong Kong’s approval of an exchange-traded fund for Bitcoin and Ethereum earlier this year and is in line with a new regulatory framework aimed at establishing the city as a crypto hub.
Not only is Futu leading the way in this space, but it has also applied for a full Bitcoin and cryptocurrency exchange license for its PantherTrade platform, which is one of 11 intermediary exchanges awaiting SFC approval.
To attract new users, Futu is offering incentives such as Alibaba and Nvidia stock rewards. Deposits of HK$10,000 or more can earn up to HK$600 in Bitcoin or vouchers. In addition, Futu is currently waiving trading commissions and partnering with licensed exchange HashKey to comply with SFC regulations.
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