Retail buyers can now trade cryptocurrencies through Futu Securities International, which is the first online broker in the region to do so. This move makes it clear that Hong Kong wants to become a world center for digital assets.
According to the South China Morning Post, Futu customers can now use either Hong Kong or U.S. dollars to trade Bitcoin and Ethereum straight on the platform. The Securities and Futures Commission recently upgraded Futu’s securities license. This new development means that the broker can now offer crypto-related services to both professional and regular clients.
Retail Crypto Trading Launch
Futu is appealing to small investors in a number of ways to get them to join. People who sell cryptocurrencies on the site can get stock in significant businesses like Nvidia and Alibaba. Futu also doesn’t charge any fees for crypto deals, which makes the offer even more appealing to people who might want to use it.
Futu isn’t the only company in Hong Kong that lets you trade cryptocurrencies, but it stands out because it’s designed for small buyers. In May, Tiger Brokers became the second company to buy cryptocurrencies, but only for pros.
The move by Futu to deal with crypto with regular people comes at a time when Hong Kong is working harder to become a significant hub for crypto. The city has worked hard to make the rules for digital assets more fair so that it can attract more businesses and investments.
Futu’s decision to allow retail crypto trade is a significant move in the right direction, and it could lead to more regular investors in Hong Kong using digital currencies. As the market changes, brokers will likely compete more to offer new and easy-to-use crypto trading solutions. This will be good for the growing group of crypto fans in the area.
