Latest news with #FutuSecurities
Arabian Post
2 days ago
- Business
- Arabian Post
Futu Securities Expands Retail Trading with Solana in Hong Kong
Futu Securities International has launched Solana trading on its Futu NiuNiu App in Hong Kong, marking a significant step in expanding access to digital asset markets. The launch comes on the heels of a broader push for crypto adoption across Asia and aims to offer more flexible trading opportunities to the region's retail investors. This move positions Futu Securities, an influential brokerage firm, as a key player in the competitive landscape of cryptocurrency trading in Hong Kong. The company has been focusing on bridging traditional financial services with digital asset trading, reflecting a growing trend in the region towards integrating blockchain technology into mainstream investment platforms. The new trading feature allows users to trade Solana directly, a cryptocurrency known for its high-speed transactions and scalability, which have positioned it as a potential competitor to Ethereum. The decision to add Solana to the platform follows a series of strategic partnerships and product enhancements by Futu, aimed at capturing a share of the rapidly evolving crypto trading market. ADVERTISEMENT Solana's inclusion is particularly notable given the increasing popularity of decentralized finance platforms and non-fungible tokens, sectors where Solana has made significant strides. Its fast transaction speeds and lower fees have made it a favourable option for developers and traders alike. By offering this asset, Futu Securities provides its customers with greater flexibility to tap into the growth of blockchain-based applications. The launch also comes at a time when other crypto trading platforms are making similar moves to expand their offerings. The competitive pressure is particularly intense in Hong Kong, a city that is positioning itself as a major hub for digital assets in Asia. Several firms are already catering to the burgeoning demand for cryptocurrency products, prompting regulators to adapt to the new landscape. Hong Kong's regulators have taken a balanced approach to crypto oversight, striving to foster innovation while ensuring the protection of investors. This regulatory stance has attracted firms like Futu to launch new offerings with confidence, knowing that the regulatory framework is supportive of such developments. Futu's move into the retail Solana trading space also ties into the broader trend of financial firms integrating digital currencies into their portfolios. The platform already offers trading in various other digital assets, including Bitcoin and Ethereum, making Solana's addition a natural extension of their crypto offerings. This shift is not isolated to Hong Kong alone. Several other financial institutions in Asia have been exploring ways to incorporate blockchain technology into their traditional business models. Many see digital currencies as a way to diversify their service offerings and attract a new wave of tech-savvy investors who are more inclined to explore innovative financial products. Futu Securities' push into the crypto space also follows its international expansion strategy. The company has been actively seeking ways to grow its customer base beyond the borders of mainland China, where stricter crypto regulations have limited access to digital asset markets. By capitalising on Hong Kong's more open regulatory environment, Futu aims to strengthen its position in the broader Asia-Pacific region. As retail investors in Hong Kong and across Asia continue to show increasing interest in cryptocurrencies, platforms like Futu NiuNiu are tapping into this growing demand by offering accessible and secure trading options. This aligns with broader trends in the financial industry where the lines between traditional and digital assets are becoming increasingly blurred. The decision to offer Solana trading comes at a pivotal moment for the cryptocurrency market. Solana has garnered attention as a potential alternative to Ethereum, largely due to its speed and lower costs. With the platform's growing user base, the ability to trade SOL on a mainstream brokerage app represents an important shift in how digital assets are perceived by traditional investors.
South China Morning Post
09-06-2025
- Business
- South China Morning Post
Hong Kong's stablecoin law opens floodgates for a boom in digital assets
Hong Kong has surged ahead of its global rivals with its landmark stablecoin law , setting the stage for a boom in digital assets and an injection of fresh liquidity into the market, according to brokers. Advertisement 'We're seeing a significant trend in investments related to stablecoins on our platform, which highlights the growing importance of this sector,' said Daniel Tse, managing director of Futu Securities International, Hong Kong's largest online brokerage firm, in a written interview on Thursday. Investors have become increasingly interested in stablecoins, which are digital tokens pegged to a reference asset like a fiat currency. This has been reflected by surging stock prices of stablecoin-related companies and a sizzling US$1.1 billion initial public offering by the world's second-largest issuer, Circle Internet Group, which was completed in New York on Wednesday. Hong Kong's new stablecoin law comes into effect on August 1 and paves the way for issuance, positioning the city ahead of the US and mainland China, which has taken a cautious stance on cryptocurrencies. The city's financial and technology sectors are positioning themselves to use this in both digital assets and other traditional modes of finance. 'We are very optimistic about the increasing demand for a connection between Web2 and Web3, prompting us to build a one-stop platform,' said Tianhua Wu, founder and CEO of online brokerage Tiger Brokers, at a briefing on Tuesday. Web2 refers to the current iteration of the internet and Web3 refers to a next-generation internet decentralised and distributed through blockchain and similar technologies. Advertisement In the past month, Tiger Brokers expanded its deposit options to the world's largest stablecoin, Tether, as well as bitcoin, Wu said. The brokerage believes that supporting stablecoin deposits will enhance capital efficiency and flexibility in the market. The broker said stablecoins would help reduce foreign exchange in cross-border transactions while improving user experience and fund mobility.
