Hong Kong’s largest online brokerage, Futu Securities International, has launched cryptocurrency trading for its 22 million customers.
Futu Securities has launched Bitcoin (BTC) and Ether (ETH) trading for Hong Kong-based users of its platform.
This makes Futu Securities the first online brokerage to directly offer cryptocurrency to Hong Kong-based retail investors, according to a report by the South China Morning Post.
The decision — which could bring new capital for the world’s two largest cryptocurrencies — comes during an uptick in investor interest in cryptocurrency. It comes a week after the launch of the first spot Ether exchange-traded funds (ETFs) in the United States, which debuted for trading on July 23.
Showcasing the growing investor interest, Bitcoin’s open interest hit a record high of $39.4 billion on July 29, increasing expectations of an imminent price breakout.
Related: Bitcoin’s ‘ultimate price’ could surpass $700K based on 3% portfolio allocation — Analyst
This is a developing story, and further information will be added as it becomes available.
