Futu Securities International, the largest online broker in Hong Kong, has begun offering retail cryptocurrency trading in the city. Hong Kong residents can now trade Bitcoin and Ether on the broker's platform using Hong Kong or US dollars. 🪙

Futu is attracting investors with shares of Alibaba and Nvidia. By opening an account and depositing HK$10,000, you can receive HK$600 worth of Bitcoin or an Alibaba share. Depositing HK$80,000 will give you HK$1,000 worth of Bitcoin or an Nvidia share.

The company also removed commissions for trading cryptocurrencies as of August 1. Futu is seeking to obtain a cryptocurrency exchange license for its new platform PantherTrade in Hong Kong.

Although Hong Kong has positioned itself as a crypto hub, it faces challenges such as low trading volumes and fraud. Authorities are stepping up controls and warning of risks. 🚨