Futu Securities International, a Hong Kong-based online stock broker, has recently launched bitcoin (BTC) and ether (ETH) trading services. The company has partnered with HashKey Exchange, a licensed cryptocurrency exchange in Hong Kong, to offer these services to its clients.
In addition to crypto trading, Futu Securities is also offering rewards to clients who open accounts and deposit specific amounts of money. According to the report in the South China Morning Post, clients who open accounts in August and deposit HK$10,000 ($1,280) within the next 60 days can receive bitcoin worth HK$600, a HK$400 supermarket voucher, or a single share of Alibaba Group (BABA). For clients depositing $80,000, they have the option to choose between HK$1,000 in bitcoin or a share of Nvidia (NVDA).
Futu Securities aims to expand its crypto offerings in the near future and has temporarily waived commission fees for these services. The company boasts 22.5 million registered users and 1.9 million paying clients as of March 31, according to its website.
Furthermore, Futu Securities is looking to obtain a license for its subsidiary Panthertrade to offer crypto trading services as well. While Panthertrade is currently operating under a deemed-to-be-licensed status by the Securities and Futures Commission in Hong Kong, it is awaiting full approval to offer these services.
The decision to introduce crypto trading services comes at a time when Hong Kong is positioning itself as a global crypto hub. The approval of spot crypto exchange-traded products for trading is just one example of the city’s support for the crypto industry.
Overall, Futu Securities’ move to offer bitcoin and ether trading, along with rewards in the form of popular shares like Alibaba and Nvidia, reflects the growing interest and adoption of cryptocurrencies in the financial market. By partnering with a licensed exchange and exploring opportunities to expand its offerings, Futu Securities is poised to capitalize on the increasing demand for crypto assets among investors in Hong Kong and beyond.