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 Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term 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 Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term 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.