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

Hong Kong-based Futu Securities has launched crypto trading of two major cryptocurrencies.

Futu offers these services through a partnership with HashKey Exchange, a Hong Kong-licensed cryptocurrency exchange.

Hong Kong-based online stock broker Futu Securities International has launched trading in Bitcoin {{BTC}} and Ether {{ETH}}, and is offering shares of Chinese e-commerce giant Alibaba Group (BABA) and artificial intelligence chipmaker Nvidia (NVDA) as rewards to clients who open accounts and deposit a certain amount of money, the South China Morning Post reported.

The company, which calls itself Hong Kong’s largest tech broker, is working to “expand our crypto offerings in the near future,” the report says. Commission fees have been waived for now. The company says on its website that Futu had 22.5 million registered users and 1.9 million paying customers as of March 31.

Hong Kong investors who open accounts in August and deposit HK$10,000 ($1,280) within the next 60 days can receive HK$600 worth of bitcoin, HK$400 worth of supermarket vouchers or a single Alibaba share. Investors who deposit $80,000 can choose HK$1,000 worth of bitcoin or one Nvidia share, the report said.

Futu offers cryptocurrency trading services through a partnership with cryptocurrency exchange HashKey Exchange, one of two exchanges licensed in Hong Kong.

It is also seeking a license to offer the same services for its subsidiary Panthertrade, which is currently licensed by Hong Kong’s regulator, the Securities and Futures Commission, allowing it to offer crypto services while it awaits full approval.

The move comes as Hong Kong continues to show its support for the crypto industry in its bid to become a global crypto hub. Recently, spot crypto exchange-traded products were approved for trading.

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