Futu Group completed the upgrade of License No. 1 in Hong Kong in July 2024, allowing the provision of cryptocurrency asset trading services for individual investors.
Futu Securities launched Bitcoin and Ethereum trading pairs from August 2024, while its subsidiary Panthertrade is in the evaluation phase for obtaining a Digital Asset Trading Platform License, creating a compliant multi-asset trading ecosystem.
MAIN CONTENT
Futu Securities has completed the upgrade of License No. 1 in Hong Kong, expanding cryptocurrency trading services.
Bitcoin and Ethereum trading will be launched starting August 2024 for individual investors.
Panthertrade, a subsidiary of Futu, has obtained a Digital Asset Trading Platform License and is currently undergoing regulatory evaluation.
What significant achievements has Futu Group made in the field of cryptocurrency trading in Hong Kong?
According to CEO Zeng Yuchao, Futu Securities successfully upgraded License No. 1 in July 2024, thus providing cryptocurrency trading services for individual investors in Hong Kong. This move is seen as a major step forward in developing a legitimate multi-asset trading platform.
This information is confirmed by the official report on Futu Group's licensing achievements as of July 2024, reflecting the company's commitment to strict compliance with the legal framework in this important market.
What cryptocurrency trading pairs has Futu Securities launched and since when?
Futu Securities will start offering Bitcoin (BTC) and Ethereum (ETH) trading pairs from August 2024 for individual investors in Hong Kong, enhancing accessibility and diversifying cryptocurrency products.
The launch of these significant trading pairs comes right after the company completed the license upgrade, demonstrating thorough technical preparation and compliance with regulatory authorities.
What role does Panthertrade – a subsidiary of Futu – play in the cryptocurrency trading ecosystem?
Panthertrade has become the first company in the Futu ecosystem to obtain a Digital Asset Trading Platform License (VATP) issued by the Hong Kong Securities and Futures Commission in January 2025, currently in the regulatory evaluation phase of the second stage.
This organization contributes to building a closed-loop multi-asset trading model, ensuring strict compliance and transparency in cryptocurrency market operations, reinforcing reliability and creating a sustainable competitive advantage for Futu.
The upgrade of License No. 1 and the maintenance of stringent evaluations with specialized licenses open up long-term development opportunities for the cryptocurrency market in Hong Kong.
— Zeng Yuchao, CEO of Futu Group, July 2024
Content Futu Securities Panthertrade License Type License No. 1 (No.1 License) Digital Asset Trading Platform License (VATP) License Completion Date July 2024 January 2025 (undergoing phase 2 evaluation) Services Offered Trading BTC, ETH, and other cryptocurrency pairs Evaluation of multi-asset cryptocurrency trading platform operations
Frequently Asked Questions
When did Futu Group officially start providing cryptocurrency trading services? Futu Securities began offering BTC and ETH trading from August 2024 after upgrading the license in July 2024. What does the VATP license of Panthertrade signify? VATP allows the company to operate as a regulated digital asset trading platform under the Hong Kong Securities and Futures Commission. How does Futu Group build a multi-asset ecosystem? Futu combines License No. 1 and VATP to create a cryptocurrency trading ecosystem with diverse assets, ensuring legal compliance. What impact does the license upgrade have on individual investors? This upgrade helps investors in Hong Kong access higher quality and safer cryptocurrency trading services. Is the evaluation phase for the VATP license of Panthertrade currently underway? Panthertrade is in the second phase of the evaluation process conducted by the Hong Kong Securities Regulatory Commission.
Source: https://tintucbitcoin.com/futu-co-2-nen-tang-web3-ma-hoa/
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