Hong Kong is becoming a hotbed for crypto activity, and the latest news is that Futu Securities, the biggest online broker in the city, is now letting people trade Bitcoin and Ethereum.
Trading Bitcoin and Ethereum on Futu
Starting August 1st, Hong Kong residents can buy and sell Bitcoin and Ethereum directly through Futu’s platform. This is a big deal because it makes crypto more accessible to the average person. You can even trade in both Hong Kong dollars and US dollars!
Futu’s New Crypto Push
Futu got a new license from the Securities and Futures Commission (SFC) that lets them offer crypto services to both professional and regular investors. They’re also trying to attract new traders with some pretty sweet incentives.
Here’s the deal:
- New accounts: If you open an account and keep at least HK$10,000 in it for two months, you can get Bitcoin credits or even a share of Alibaba!
- Big deposits: If you put in even more money, you could win shares of Nvidia.
- No fees: For a limited time, Futu is waiving all trading fees for crypto.
Futu Partners with HashKey Exchange
To make sure everything is legit, Futu is working with HashKey Exchange, a fully licensed crypto exchange in Hong Kong. This partnership ensures that all trades meet the SFC’s requirements, so you can be confident that your money is safe.
Hong Kong’s Crypto Ambitions
Futu isn’t the only one getting into crypto. ZA Bank, the biggest virtual bank in Hong Kong, is also offering special services to companies that issue stablecoins. This is all part of Hong Kong’s plan to become a major crypto hub.
It looks like Hong Kong is serious about embracing crypto, and it’s exciting to see how this will all play out.
