Hong Kong’s Futu Launches Bitcoin, Ether Trading, Offers Alibaba, Nvidia Shares as Rewards: Report

The leading tech brokerage firm in Hong Kong, self-proclaimed as such, is planning to broaden its cryptocurrency services soon, according to a recent report. At present, commission fees are not being charged. As of March 31st, Futu boasts 22.5 million registered users and 1.9 million active paying clients, information available on their official website.

Individuals residing in Hong Kong who establish accounts during August and deposit HK$10,000 ($1,280) within 60 days from opening can select one of three rewards: Bitcoin valued at HK$600, a HK$400 supermarket voucher, or a single share of Alibaba. For those depositing $80,000, they may opt for either HK$1,000 in bitcoin or an Nvidia share, according to the report.

As an analyst, I’m excited to share that I’m working with HashKey Exchange, one of the select few cryptocurrency exchanges licensed in Hong Kong, to provide top-tier crypto trading services through Futu.

Additionally, it’s attempting to secure a license for its subsidiary, Panthertrade, to provide similar services. At present, it operates under a deemed-licensed status from Hong Kong’s regulatory body, the Securities and Futures Commission. This temporary authorization enables it to offer crypto services until it receives complete approval.

As a researcher, I am thrilled to announce that my latest findings reveal a strategic step taken by Hong Kong, where I currently reside and work. This move is part of their ongoing commitment to bolster the cryptocurrency sector, aiming to establish Hong Kong as a leading global crypto hub. Notably, trading for spot crypto exchange-traded products has recently been authorized.