Written by: 1912212.eth, Foresight News
On the morning of May 7, Twitter user FORAB revealed that Futu Securities is internally testing a token deposit function, supporting Bitcoin, Ethereum, and USDT. Just hours later, this was officially confirmed. Futu Securities International (Hong Kong) Limited announced that its core trading platform Futu Niuniu has officially launched deposit services for BTC, ETH, and USDT. Qualified investors can complete crypto deposits and trade cryptocurrencies through the one-stop trading platform, then invest in more asset classes or withdraw funds.
Hong Kong VATP License Approved in January This Year
Futu Holdings Limited is a financial technology company headquartered in Hong Kong, established in 2012, dedicated to providing digital securities brokerage and wealth management services through technological innovation. According to its official data, as of Q4 2024, Futu has over 34 million global registered users, approximately 2.5 million paid users, with a year-on-year growth of 39.1%. The Hong Kong market performance is particularly strong, with Futu Niuniu users covering over 50% of the local adult population. In 2024, Futu's total revenue grew 86.8% year-on-year, and non-GAAP adjusted net profit increased by 105.4%.
Futu Securities Founder and CEO Li Hua
Futu Securities, its core subsidiary, is a licensed broker in Hong Kong, holding licenses No. 1 (securities trading), No. 4 (advising on securities), and No. 9 (asset management) issued by the Hong Kong Securities and Futures Commission (SFC), qualifying it to legally conduct securities trading and related financial services. These licenses ensure Futu's securities business in Hong Kong is strictly regulated, complying with anti-money laundering and know-your-customer requirements. However, crypto-related services involving Virtual Asset Trading Platform (VATP) regulation require an additional VATP license.
As early as 2021, Futu revealed its interest in the crypto market. According to Cailian Press, Futu Holdings Vice President Robin Li Xu stated that the company had applied for digital currency-related licenses in Hong Kong, the US, and Singapore, planning to enter crypto trading, though progress was slow. Hong Kong's regulation of crypto assets has gradually opened up in recent years. In 2023, the SFC introduced the VATP license system, allowing compliant platforms to provide cryptocurrency trading services to retail investors. Notably, Futu Holdings' wholly-owned subsidiary PantherTrade applied for a VATP license, and in January 2025, the SFC approved PantherTrade's VATP license.
Futu Securities' newly launched crypto deposit service allows ordinary users to deposit Bitcoin (minimum 0.0002 BTC) and Ethereum (minimum 0.001 ETH) from personal wallets, with funds typically arriving within 1 hour; professional investors can deposit USDT using designated networks, free of charge. This feature enables Futu Niuniu users to seamlessly manage cryptocurrencies and traditional assets on the same platform, significantly enhancing portfolio flexibility from Hong Kong and US stocks to Bitcoin and ETFs.
Futu's move is not an isolated case, but part of the global fintech platform's embrace of cryptocurrencies. Robinhood in the US is a prime example. This platform, which disrupted traditional brokers with "zero commission," launched Bitcoin and Ethereum trading services as early as 2018, gradually expanding to assets like Dogecoin and Litecoin. Robinhood's crypto business quickly became a key revenue source, with crypto trading revenue accounting for nearly 20% of its total revenue in 2023. Similarly, global investment platforms like eToro have made cryptocurrencies a core business, attracting many young investors. Futu Securities' move is clearly inspired by these pioneers, with its crypto deposit service being both a market competition necessity and a keen response to changing user needs.
Lowering Barriers for Stock Traders to Buy Crypto
For Futu Niuniu's traditional stock traders, the crypto deposit service is quite attractive. First, it enriches investment portfolio diversity. Stock traders are accustomed to investing in traditional assets like Hong Kong and US stocks, ETFs, but cryptocurrencies as a high-growth alternative asset have attracted global investors' attention in recent years. In 2024, Bitcoin prices once exceeded $100,000, showing strong market demand. Futu allows stock traders to deposit BTC, ETH, and USDT through the same account, directly participating in the crypto market without registering additional crypto exchange accounts, lowering learning and operational barriers.
Secondly, Futu's crypto service provides stock traders with new tools to hedge market risks. Stock and crypto markets often show different volatility cycles, for example, when Bitcoin crashed in 2021, some stock markets remained stable. Stock traders can diversify investment risks by allocating a small portion of crypto assets, especially capturing crypto market rises during traditional market downturns.
The USDT deposit function provides professional investors with a stable fund transfer station, facilitating flexible switching between stock and crypto markets. Compared to platforms like Robinhood attracting young investors through crypto trading, Futu Niuniu's stock trading users have a higher proportion of young and high-net-worth individuals with greater crypto acceptance. This feature is expected to further enhance platform stickiness and attract users to increase account funds.
Diversified Investment for Crypto Traders
For crypto trading enthusiasts, Futu Securities' deposit service also offers certain attractions. First, the Futu Niuniu platform supports deposits for Bitcoin, Ethereum, and USDT, covering mainstream crypto market assets. Bitcoin and Ethereum, ranking top two in market cap, offer high liquidity and market recognition; USDT, as a stablecoin, provides a value anchor for trading, reducing volatility risks.
Secondly, Futu's brand endorsement and compliance provide crypto traders with higher security guarantees. Compared to some crypto exchanges suffering asset losses due to technical vulnerabilities or hacker attacks, Futu, as a licensed broker, relies on mature trading systems and strict regulatory requirements, significantly reducing financial risks. For instance, the US platform Robinhood attracted many users through crypto trading, with its compliance and technical stability being key factors. Futu's similar positioning may replicate this success, attracting crypto traders sensitive to security and transparency.
Additionally, Futu Niuniu's one-stop platform allows crypto traders to quickly convert between crypto and traditional financial assets. Users can manage Bitcoin and Hong Kong/US stocks in the same account, eliminating cross-platform transfer hassles and improving fund utilization efficiency. This seamless integration is particularly attractive to crypto traders seeking diversified investments, with some crypto traders also interested in US and Hong Kong stock opportunities. When crypto and stock market cycles are misaligned, it becomes convenient for investors to flexibly capture waves and seize opportunities in both crypto and stock markets.
However, crypto traders should note that Futu's crypto services currently primarily target Hong Kong and overseas users, with mainland Chinese users unable to participate due to regulatory restrictions. Moreover, Futu's USDT deposit sets a professional investor threshold (HK$8 million asset proof), leading some to jest about "blocking retail investors". The extremely high barrier effectively prevents small retail investors from participating in the platform's trading, and the current number of participants remains unknown.
Summary
For Futu itself, this move not only meets the needs of existing users but may also attract new users to join and further expand market share. From an industry perspective, Futu's entry should not be underestimated. Crypto assets are accelerating their entry into the mainstream, and its compliant operation on traditional financial platforms also injects transparency into the crypto industry, which already lacks trust. Finally, Futu's action may trigger a chain reaction. Local Hong Kong brokers like Victory Securities have already supported crypto deposits, and Futu's entry will encourage more traditional financial institutions to follow suit, accelerating industry integration.
