Futu Securities initiates depositing services for Bitcoin, Ethereum, and Tether (USDT)
Revamped Rewrite:
Futu Securities International, a leading Hong Kong-based online trading platform, is shaking up the financial world by launching its crypto deposit service. This game-changing move allows qualified investors to deposit and trade Bitcoin, Ethereum, and the stablecoin Tether directly on their platform.
In a press release, the company announced that investors can now easily trade cryptocurrencies alongside traditional asset classes like Hong Kong, U.S., and Japanese stocks, options, ETFs, funds, and bonds. This versatility allows traders to effortlessly switch between virtual assets and traditional assets, offering a unique blend of traditional finance and decentralized finance.
To put it simply, this means you can invest in Bitcoin, Ethereum, or Tether, and just as easily switch to buying shares of a tech giant, or even trading bonds. The convenience provided by this feature is undeniable, making it easier for investors to explore multiple asset classes and make informed decisions.
Futu's ambition is clear: to bridge the gap between traditional finance and the world of digital assets. With the deposit function, nicknamed the "coin recharge function," Futu users can choose to accumulate crypto holdings or sell them to invest in other asset classes.
The company has already been testing the waters with stablecoin deposits, experimenting with Tether's USDT and Circle's USDC. Futu Securities' Managing Director, Xie Zhijian, sees a growing appetite for crypto deposit and withdrawal services in the market, and the firm is eager to supply this demand. In the future, the company hopes to also offer withdrawal services for investors looking to inject funds into digital assets.
Xie states, "Futu aims to provide crypto investors with a better investment experience, by creating a more diverse investment platform and fostering a favorable investment environment." This expansion was first reported on our platform back in August 2024, where Futu Securities introduced its crypto trading service as a way to appeal to retail investors through incentives such as shares in Alibaba and Nvidia.
In essence, Futu Securities' move into cryptocurrency services underscores the growing potential of digital assets. By focusing on tokenization, stablecoins, and digital asset integration, the company is carving out a niche in the financial landscape, merging traditional brokerage services with the burgeoning decentralized finance ecosystem. This pioneering step not only diversifies investment opportunities but also signals the evolving dynamics of Hong Kong’s financial market.
- Futu Securities International plans to enable investors to deposit and trade Bitcoin, Ethereum, and Tether directly on their platform in 2024.
- The company's new crypto deposit service allows qualified investors to trade cryptocurrencies alongside traditional asset classes like stocks, options, ETFs, funds, and bonds.
- This service offers a unique blend of traditional finance and decentralized finance, allowing traders to effortlessly switch between virtual assets and traditional assets.
- Futu's deposit function, nicknamed the "coin recharge function," allows users to choose to accumulate crypto holdings or sell them to invest in other asset classes.
- The company has already been testing the waters with stablecoin deposits, experimenting with Tether's USDT and Circle's USDC.
- In the future, the company hopes to also offer withdrawal services for investors looking to inject funds into digital assets.
- By focusing on tokenization, stablecoins, and digital asset integration, Futu Securities is carving out a niche in the financial landscape, merging traditional brokerage services with the burgeoning decentralized finance ecosystem.
