Share this article
Robinhood Rival Futu Plans to Offer Crypto Trading in US, Singapore, Hong Kong
With its number of new users and revenue surging, the Chinese brokerage app said it has begun applying for crypto-related licenses.
By Danny Nelson
Updated May 9, 2023, 3:19 a.m. Published May 20, 2021, 10:06 p.m.
Futu Holdings Ltd., the fast-growing Chinese brokerage and Robinhood rival, plans to offer cryptocurrency trading to “international clients” later this year, according to executives.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking on Futu’s Q1 earnings call Wednesday, Senior Vice President Robin Li Xu said the Tencent-backed trading firm has begun applying for “digital currency–related licenses” in the U.S., Singapore and Hong Kong.
During the earnings call, the Nasdaq-listed Futu, which had not previously disclosed its crypto offering, didn't elaborate on what the new trading service would look like. Xu said the feature should launch in the second half of 2021.
China remains a definite no-go zone for Futu’s crypto trading, however.
“What we know for sure is that we will not offer digital currency trading services to mainland China users,” Xu said. Chinese regulators had reiterated the country’s years-long crypto ban one day prior.
Read more: Beijing’s Crypto Crackdown Is Not New but Don’t Dismiss It
Crypto trading would add another weapon to Futu’s already supercharged financial services arsenal, alongside stock trading and wealth management.
Drawing comparisons to Robinhood, the firm tripled its revenue in Q1 and grew its user base 70%. Futu now has over 14 million users.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
