As traditional finance and the crypto field increasingly converge, online brokers are accelerating their layout. Recently, Hong Kong broker Futu Securities was exposed to be internally testing a stablecoin deposit function, with users expected to be able to directly participate in US, Hong Kong, and Japanese stock trading using USDT and USDC. This initiative not only signals the countdown for brokers entering the crypto space but may also trigger an innovation in global financial infrastructure.
Screenshots show that users can also directly top up their accounts using mainstream cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) for traditional stock market trading. The source commented: "The operational experience is comparable to Binance, and the speed is very fast."
Even with mature technology, regulation remains a significant variable. Some users speculate that the function may only be available to Hong Kong and overseas users, with Chinese account holders potentially unable to activate it. After all, China still cannot purchase Bitcoin ETFs, indicating regulatory policies limit feature expansion and create financial technology disparities between regions.
Some users have also raised potential risks and concerns, including tax implications for stock trades made through stablecoin deposits and liquidity and depth issues that large investors are most concerned about, which could affect actual usage rates.
Stablecoins like USDT and USDC, pegged to fiat currencies such as the US dollar, have become a bridge between crypto and financial worlds. Futu's move embraces this trend, rapidly converting digital assets into operational funds and enhancing user experience and capital efficiency.
Online brokers' entry into the crypto space will accelerate the mainstreaming of crypto assets. Stablecoins' low-cost cross-border characteristics not only enhance fund efficiency but may also attract more traditional investors to try digital assets.
At that time, brokers' roles may transform from intermediaries to multi-asset integration platforms, redefining financial boundaries.
Futu Securities is not the only broker exploring stablecoin integration. Multiple global institutions are actively developing and applying related functions:
- Victory Securities: As Hong Kong's first licensed broker supporting stablecoin deposits, they opened USDT and USDC deposit functions on their VictoryX App last June and plan to launch an instant currency exchange service.
- US Coinbase: Not only intending to apply for a US federal bank license but also working to implement compliant tokenized securities, bridging traditional finance and crypto.
UK Archax: Launched a stablecoin yield service under FCA regulation, allowing investors to convert stablecoins into assets with returns.
Robinhood: Partnered with Paxos to launch stablecoin USDG, attempting to build a cross-platform stablecoin network and compete with existing stablecoins.
These developments indicate that stablecoins are rapidly becoming a key asset that traditional brokers and fintech companies are integrating, potentially transforming the fundamental landscape of global financial fund circulation and settlement.
From stablecoin deposits to on-chain settlement, broker transformation has just begun
Futu is just the beginning. In the future, more brokers are expected to enter the crypto field, including offering asset pledging, on-chain trading settlement, and even issuing their own stablecoins. This wave of financial innovation will not only significantly integrate cryptocurrencies into traditional capital markets but also open up more asset allocation options for global investors.
(Bringing US stocks and ETFs on-chain! Ondo Founder Allman: Brokers are competing to collaborate, with BlackRock and Goldman Sachs participating in governance verification)
Behind Futu Securities' launch of stablecoin functionality lies the changing landscape of the financial market. At the intersection of tradition and innovation, regulatory policies, market demand, and technological development will collectively shape the financial future. The next broker to stake a claim in the crypto space may be just around the corner.
Risk Warning
Cryptocurrency investment carries high risks, and its price may fluctuate dramatically. You may lose all of your principal. Please carefully assess the risks.
