Futu Securities International, Hong Kong’s largest online brokerage, has launched retail Bitcoin (BTC) and Ethereum (ETH) trading on its platform, according to a Thursday report by the South China Morning Post. 

The newly launched service has made Futu Securities the first online brokerage in the region to offer crypto assets directly to Hong Kong-based retail investors. 

Residents can now buy and sell the two largest cryptocurrencies in the world, bitcoin and Ethereum on the platform using either the Hong Kong Dollar (HKD) or the United States dollar (USD).

To incentivize customer loyalty and acquisition, Futu Securities will reward clients with shares of the Chinese multinational e-trading company Alibaba Group (BABA) and those of the US AI chipmaker Nvidia (NVDA) too. The platform is also offering customers crypto trading with zero commission fees

The report read, “Hong Kong investors who open accounts in August and deposit HK$10,000 (US$1,280) for the next 60 days can receive either bitcoin worth HK$600, a HK$400 supermarket voucher, or a single share of Alibaba.” In addition, clients who hold “US$80,000 for the same period (get) either HK$1,000 in bitcoin or a share of Nvidia.”

About Futu Securities

Founded in 2012 by Leaf Hua Li, the Hong Kong-based company offers a wide range of financial services, including the sales of stocks, options, and ETFs. Futu offers its services to more than 22.5 million users, according to statistics from March 31, 2024.

Keen on expanding its horizons in the “virtual asset business hub”, Futu Securities received an upgraded Type 1 license in July from the Hong Kong Securities and Futures Commission (SFC), to freely provide virtual asset services to retail and professional clients in Hong Kong.

The online broker is also seeking a crypto exchange license endorsed by the SFC, along with 11 other platforms, for its new subsidiary platform PantherTrade.

Futu Securities’ innovative strides have created a more positive environment for crypto in the region. In a recent report, Hong Kong legislature member Johnny Ng advocated that the city should invest a portion of its fiscal reserves in Bitcoin to attract more tech talent and position itself as a hub for innovation in the fintech sector.