Search results for Futu Holdings
Finance
Huaxing Securities joins Futu, Tiger in curbing trades for mainland China clients
Huaxing Securities will restrict new trading for mainland China clients, extending curbs beyond Futu Holdings, Tiger Brokers and Longbridge as Chinese regulators widen their offshore broker crackdown. From June 15 Beijing time, Huaxing will stop new purchases and position openings for mainland accounts and block incoming funds and securities transfers, while allowing sales of existing holdings. The firm said the move follows regulatory requirements during a two-year rectification period.
Crypto
Hong Kong dollar stablecoin HKDAP completes Ethereum mainnet test after regulatory approval
Anchorpoint Financial, which received a stablecoin issuance licence from the Hong Kong Monetary Authority, has completed a test transferring its Hong Kong dollar stablecoin HKDAP (HKD At Par) to the Ethereum mainnet. The test was conducted with OSL Group and LeopardTrade, a trading platform under Futu Holdings, and focused on verifying the process of converting fiat Hong Kong dollar funds into reserve assets. Standard Chartered Hong Kong provided infrastructure and institutional trust services.
Crypto
China online brokerage crackdown puts USDT in focus as backdoor route for overseas stocks re-emerges
China\'s securities regulator has begun sanction procedures against online brokerages including Tiger Brokers, Futu and Longbridge for offering services to mainland clients without approval, and ordered a wind-down over 2 years. Existing users can only sell assets and withdraw funds during the period, while new deposits and buy orders have been halted. The move has renewed attention on USDT as a potential route for shifting funds, though regulators have also expanded oversight of stablecoins.