Several traditional financial companies around the world have begun testing cryptocurrency trading.
These events reflect the growing recognition of cryptocurrencies and mark a new era of integration between traditional and digital finance.
Integration of cryptocurrencies into stock trading
Futu Securities, a leading technology securities company in Hong Kong, is currently testing a cryptocurrency deposit feature. The company already supports Bitcoin (BTC), Ethereum (ETH), and USDT, allowing users to trade stocks in the US, Hong Kong, and Japan markets using USDT and USDC. Techcombank Securities (TCBS) is also taking its first steps to enter the cryptocurrency market in Vietnam. TCBS has integrated a cryptocurrency price board into its platform as part of its strategy to prepare for Vietnam's largest IPO in history by the end of 2025. Although TCBS has not yet introduced cryptocurrency trading in Vietnam, this move has attracted the attention of investors interested in digital assets. It also demonstrates the company's ability to quickly respond to global financial trends. According to Triple-A, Vietnam remains among the leading countries in cryptocurrency adoption, with over 21% of internet users owning digital assets. By integrating a cryptocurrency price board, TCBS is leveraging this trend to enhance its brand value and attract investors ahead of the IPO.
The significance of the wave of trials in crypto trading
The wave of cryptocurrency trading trials among traditional financial firms has significant implications for the global market. Firstly, it signals that cryptocurrencies are increasingly recognized as a legitimate asset class within the economic system.
Secondly, testing cryptocurrency trading allows financial firms to attract a large number of new clients, especially the younger generation that is enthusiastic about blockchain technologies. In Hong Kong, Futu Securities is leveraging this opportunity to expand its market share. At the same time, TCBS in Vietnam is using its cryptocurrency price board to enhance its appeal ahead of an IPO.
Thirdly, these initiatives reflect a shift in the perception of risks and potential of cryptocurrencies by financial institutions. Previously, traditional financial firms often shied away from the volatility of cryptocurrencies, but now they are mitigating risks by integrating stablecoins like USDT, which are less volatile than BTC or ETH.
Evidence of this trend can be seen in the recent steps taken by traditional financial companies towards the adoption of stablecoins to enhance payment efficiency and minimize risks. For example, Visa has partnered with Bridge, a stablecoin infrastructure company, to issue Visa cards linked to stablecoins. Similarly, Bank of America, Standard Chartered, PayPal, Revolut, and Stripe are entering the stablecoin market to capitalize on opportunities in cross-border payments and meet the growing demand for cryptocurrency transactions.#BinanceSquare #Write2Earn #ISO20022 #BTCtrade #TradeStories $ETH