Futu Becomes the First in Hong Kong to Offer Zero-Commission Crypto Trading, Embracing Web 3.0 with HK Residents

(Hong Kong - July 31, 2024) Futu Securities International (Hong Kong) Limited ("Futu" or the "Company"),Hong Kong's No. 1 retail brokerage, announced the official launch of licensed crypto trading services on August 1. The Company became the first brokerage in Hong Kong to offer zero-commission crypto trading, embracing Web 3.0 with Hong Kong residents. Starting from August 1, retail investors in Hong Kong can enjoy secure, licensed, and zero-commission crypto trading services on the Futubull app, Futu's trading platform, and win bitcoin worth up to HK$800 by completing tasks such as community interaction.

"Futu is fully confident in the future of Hong Kong's Web 3.0 market. As the most popular digitalized brokerage in Hong Kong, we have a broad user base and the opportunity to make significant achievements in this field. According to our survey, over 40% of investors who have never traded virtual assets wish to trade on Futubull, and nearly 75.6% of experienced investors also look forward to the launch of virtual asset trading on the app. The introduction of zero-commission crypto trading is our response to investors' needs and an excellent example of our 'user first' philosophy and continuous product improvement." said Daniel Tse, Managing Director of Futu Securities.

Futu's Licensed Crypto Trading Services Make Funds Transfers Safer, More Efficient, and More Transparent

Futu received approval from the Securities and Futures Commission of Hong Kong ("SFC") to upgrade its license to provide qualified Hong Kong investors, including retail investors, with crypto trading services. The new trading services are regulated by the SFC, allowing clients to trade with peace of mind.

Previously, when investors traded through traditional channels, they usually had to exchange fiat money for stablecoins like Tether before using the stablecoins to buy the cryptos they wanted. Now, clients can trade cryptos directly with Hong Kong dollars or US dollars at real-time exchange rates on Futubull, with an investment threshold as low as HK$80 or US$10. Not only has it made crypto trading faster, more efficient, and more convenient, but it also saves clients the trouble of using private accounts to buy stablecoins, preventing them from getting involved in unsafe or even illegal transfers due to asymmetric information.

Futubull Community Provides Low-entry Bitcoin Rewards, Embracing Web 3.0 with HK Residents

In addition to zero-commission crypto trading, Futu started a fun event in the Futubull Community–"Complete tasks to earn energy points and redeem them for bitcoin worth up to HK$800", for both its new and existing clients. Clients can activate their energy by completing their first crypto trade on Futubull, and by participating in community interaction, inviting friends, taking related courses, etc., they can earn additional energy points, which can be redeemed for bitcoin rewards valued up to HK$800. Unlike some crypto trading incentives that seem attractive but have high redemption thresholds, the rewards offered by Futu will be credited to client accounts within 15 trading days after the event ends. By offering clients tangible benefits, Futu is heading towards the new era of Web 3.0 with Hong Kong residents.

From August 1 to August 31, new Hong Kong investors who open an account, deposit HK$10,000 in total, and keep daily average assets at or above HK$10,000 for the next 60 days can receive one of these three rewards: bitcoin worth HK$600, a HK$400 supermarket voucher, or one share of BABA. Additionally, those who deposit HK$80,000 during the event period and keep daily average assets at or above HK$80,000 over the next 60 days can get bitcoin worth HK$1,000 or one share of NVDA. Therefore, new clients can get bitcoin worth up to HK$1,600 during the event. *Investors can trade cryptos with zero commissions during this period.

A One-Stop Investment Platform Covering More Product Categories

The newly launched crypto trading services cover four spot trading pairs: BTC/USD, BTC/HKD, ETH/USD, and ETH/HKD. Futubull also supports the trading of various virtual asset-related investment categories, such as spot and futures ETFs trading in the HK and US markets and blockchain stocks, to meet clients' diverse investment needs.

In recent years, Futu continued to launch a wide range of investment products, aiming to create a "one-stop investment platform" that allows clients to "invest globally with one account." In addition to its well-known HK and US brokerage business, Futu expanded its footprints to the Japanese stock market and is now making a foray into the crypto field.

Facing a broad investor base, Futu is keenly aware that each of them has different investment preferences, habits, and strategies and has been exploring ways to help investors find products and strategies that suit them. Together with the launch of crypto trading, the Futubull Community also released a wealth of investor education materials and set up a cryptocurrency column to capture cryptocurrency trends in the long run. With a variety of tools at hand to empower investors, including news, in-depth content, ranking lists, and community events, Futu hopes retail investors can make investment decisions with confidence after learning, just like professional investors do.

"As the No. 1 retail brokerage in Hong Kong, Futu Securities has been fully involved in and acted as a driving force for the evolution of the securities industry from paper to the digital age since its establishment 12 years ago. During this process, we won love and trust from the public. With the coming of Web 3.0, we will continue to embrace and promote new development trends, launch new products, and create a supreme trading experience for Hong Kong people through technological innovation." said Daniel Tse.