Key Points
- Hong Kong’s Futu Securities has launched a crypto deposit service, allowing users to trade Bitcoin, Ethereum, and USDT.
- The United States is seeing renewed regulatory momentum for crypto, with various states considering their own Bitcoin reserves.
Hong Kong’s largest online brokerage, Futu Securities International, is stepping into the crypto space. The company has launched a crypto deposit service, which allows qualified investors to trade Bitcoin, Ethereum, and USDT alongside traditional assets.
Bridging Traditional Finance and Crypto
This move is significant as it allows users to easily switch between digital and conventional markets, bridging the gap between traditional finance and the rapidly evolving world of cryptocurrencies.
Hong Kong is making strides to establish itself as a global crypto hub, with developments such as the ASPIRe framework, tax incentives for institutional investors, and the approval of Asia’s first spot Bitcoin and Ether ETFs.
U.S. Regulatory Momentum
In the United States, there is renewed regulatory momentum for crypto. Paul Atkins now leads the SEC and has promised a clearer stance on crypto regulation. The SEC has also formed a task force to create a comprehensive framework for digital assets.
States like Texas, Arizona, and New Hampshire are considering establishing their own Bitcoin reserves, which has sparked legislative activity. This has had a ripple effect far beyond U.S. borders, inspiring global momentum.
Countries like Switzerland are considering adding Bitcoin to their national reserves, and South Korea’s presidential candidate Han Dong-hoon is advocating for deregulation and Bitcoin ETF approval. In Vietnam, Techcombank Securities is preparing for a historic IPO by integrating crypto tools into its platform.
Market Trends
There has been a notable surge in market activity alongside this shift in crypto sentiment. The total cryptocurrency market capitalization has reached $3.09 trillion, reflecting a 3.10% daily gain. Bitcoin is nearing the symbolic $100K milestone, trading at $99,749.24 after a 2.88% rise, while Ethereum has also shown strong momentum with a 5.27% increase, reaching $1,943.46.
Visa’s on-chain analytics data for April shows USDT leading transaction volumes with $421.61 billion, outpacing USDC and other stablecoins. This indicates accelerating global engagement and reinforces the narrative of crypto’s expanding relevance across both institutional and retail landscapes.
