2024-08-01T14:22:54.088+02:00
Thursday, 01/08/2024 | 12:22 GMT by
Tareq Sikder
- The firm is seeking a crypto exchange license for its new platform, PantherTrade.
- Tiger Brokers started offering crypto trading in May after a license upgrade.
Futu’s New Office in Hong Kong. Source: Futu Media
Futu Securities International, an online broker in Hong
Kong, has introduced retail cryptocurrency trading in the city. The company now
allows Hong Kong residents to trade bitcoin and ether directly on its platform
using either Hong Kong or US dollars, according to an announcement made today (Thursday).
Futu recently received a securities license upgrade from the
Securities and Futures Commission (SFC). This upgrade permits Futu to offer
virtual asset dealing services to both professional and retail customers in
Hong Kong.
PantherTrade Awaits Full Approval
The launch is part of Hong Kong’s effort to enhance its
appeal as a virtual asset business hub. Over the past two years, the city has
introduced new crypto policies, including a mandatory licensing regime for
cryptocurrency exchanges.
Futu is also seeking a cryptocurrency exchange license for
its new platform, PantherTrade. Currently, PantherTrade is among 11 platforms
in Hong Kong that are “deemed to be licensed” for crypto trading,
meaning they can operate while awaiting full approval from the SFC.
To attract investors during the current crypto bull market,
Futu is offering several incentives.
🇭🇰 Hong Kong’s largest online broker Futu has launched #Bitcoin and #crypto trading. pic.twitter.com/YlOm19aemG
— BITCOIN EXPERT INDIA (@Btcexpertindia) August 1, 2024
Futu
recently completed a HKD440 million investment in Gravitation Fintech HK
Limited, the parent company of Airstar Bank, as reported by Finance Magnates. As a result, Futu
now holds an indirect 44.11% stake in Airstar Bank, becoming its second largest
beneficial owner.
Futu Partners with HashKey
Futu is the first online brokerage in Hong Kong to offer
direct cryptocurrency trading on its platform. The SFC’s regulations require
such services to be offered through a partnership with a licensed
cryptocurrency exchange. Futu is collaborating with HashKey Exchange, one of
the two licensed exchanges in Hong Kong.
Tiger Brokers, a local competitor, announced in May that it
had begun offering cryptocurrency trading services to professional investors
following a license upgrade. The SFC defines professional investors as
individuals with investment portfolios exceeding HK$8 million or corporate
entities with assets over HK$40 million.
Futu Securities International, an online broker in Hong
Kong, has introduced retail cryptocurrency trading in the city. The company now
allows Hong Kong residents to trade bitcoin and ether directly on its platform
using either Hong Kong or US dollars, according to an announcement made today (Thursday).
Futu recently received a securities license upgrade from the
Securities and Futures Commission (SFC). This upgrade permits Futu to offer
virtual asset dealing services to both professional and retail customers in
Hong Kong.
PantherTrade Awaits Full Approval
The launch is part of Hong Kong’s effort to enhance its
appeal as a virtual asset business hub. Over the past two years, the city has
introduced new crypto policies, including a mandatory licensing regime for
cryptocurrency exchanges.
Futu is also seeking a cryptocurrency exchange license for
its new platform, PantherTrade. Currently, PantherTrade is among 11 platforms
in Hong Kong that are “deemed to be licensed” for crypto trading,
meaning they can operate while awaiting full approval from the SFC.
To attract investors during the current crypto bull market,
Futu is offering several incentives.
🇭🇰 Hong Kong’s largest online broker Futu has launched #Bitcoin and #crypto trading. pic.twitter.com/YlOm19aemG
— BITCOIN EXPERT INDIA (@Btcexpertindia) August 1, 2024
Futu
recently completed a HKD440 million investment in Gravitation Fintech HK
Limited, the parent company of Airstar Bank, as reported by Finance Magnates. As a result, Futu
now holds an indirect 44.11% stake in Airstar Bank, becoming its second largest
beneficial owner.
Futu Partners with HashKey
Futu is the first online brokerage in Hong Kong to offer
direct cryptocurrency trading on its platform. The SFC’s regulations require
such services to be offered through a partnership with a licensed
cryptocurrency exchange. Futu is collaborating with HashKey Exchange, one of
the two licensed exchanges in Hong Kong.
Tiger Brokers, a local competitor, announced in May that it
had begun offering cryptocurrency trading services to professional investors
following a license upgrade. The SFC defines professional investors as
individuals with investment portfolios exceeding HK$8 million or corporate
entities with assets over HK$40 million.
