One of Hong Kong’s top online brokerages, Futu Securities International, formally debuted its much-awaited crypto deposit service on its all-in-one digital platform. The service allows traders of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). This action is a significant first in combining cryptocurrency with conventional financial services into one simplified ecosystem.
A press statement from the company states that qualified investors may now deposit and trade digital assets using the Futu NiuNiu app. The app also supports traditional financial instruments, including stocks, ETFs, mutual funds, options, and bonds, across markets in Hong Kong, the United States, and Japan.
By providing both asset classes under one roof, this growth confirms Futu’s goal to close the distance between traditional finance and distributed financing (DeFi). Users no longer have to switch between several platforms to handle conventional and crypto portfolios; Futu offers a smooth interface with simple asset type change.
Easy Crypto Deposits
The “coin recharge function” of the new service, which lets users immediately deposit cryptocurrencies like Bitcoin, Ethereum, and Tether straight into their accounts, is among its most intriguing aspects. Users of already deposited cryptocurrencies can decide to either expand their portfolio or turn those assets into conventional financial instruments. In the changing markets of today, this adaptability allows investors more control over their capital allocation.
Apart from the coin deposit function, the simple interface of the NiuNiu app guarantees that users can monitor and control several asset classes concurrently. This multi-asset capacity is obviously a benefit for ordinary investors trying to diversify their assets without the complications of using several trading platforms.
Emphasizing Tether’s USDT and Circle’s USDC, Futu has already run successful internal tests for stablecoin deposits. The introduction of these services reflects increasing investor need for safe and controlled access to digital assets via already trusted platforms.
Futu Expands Crypto Services in Hong Kong
Managing Director of Futu Securities Xie Zhijian said that demand for crypto deposit and withdrawal options is fast increasing, especially in Hong Kong. Many local brokerages still lack the infrastructure to enable such services, though. Early entrance into this market helps Futu establish itself as a leader in crypto-enabled investment options.
“We have seen a definite change in investor interest,” Xie said. “Integrated platforms supporting both conventional and cryptocurrency assets are much sought for. By creating a more diversified investment environment, Futu seeks to provide crypto investors with a better experience.
In the not-too-distant future, the company also intends to launch crypto withdrawal services, therefore enabling users to migrate money between asset classes. This would finish the cycle and provide investors with complete control over withdrawals and inflows from their platform crypto wallets.
Futu’s Shift: From Stocks to Crypto
Beginning in August 2024, Futu’s crypto adventure started with the company first introducing free shares in Alibaba and Nvidia to attract retail users and enable crypto trading capabilities. A larger plan to transform Futu into a one-stop investment center that satisfies the interests of both traditional and modern investors includes the inclusion of bitcoin deposits and forthcoming withdrawals.
Futu’s growth comes at the appropriate moment as digital assets acquire greater general popularity, particularly in Asia. The brokerage is laying a strong basis for the future of finance, where stocks and bonds coexist with Bitcoin, Ethereum, and stablecoins as the main constituents of a diversified portfolio.
