-
Futu Securities (Hong Kong) and TCBS (Vietnam) are testing crypto features, reflecting a growing integration of digital assets into traditional finance.
-
Crypto adoption in Vietnam exceeds 21%, prompting TCBS to integrate a crypto price board ahead of its anticipated IPO.
-
Financial giants like Visa, PayPal, and BoA embrace stablecoins, indicating a strategic shift in risk perception and innovation.
Traditional financial firms are increasingly embracing cryptocurrencies, with new initiatives enhancing adoption and integration in the finance ecosystem.
Integrating Cryptocurrencies into Stock Trading
Futu Securities, a leading technology-driven securities firm in Hong Kong, is currently testing a cryptocurrency deposit feature. The platform now supports Bitcoin (BTC), Ethereum (ETH), and USDT, allowing users to trade stocks in the US, Hong Kong, and Japan markets using USDT and USDC.
“Internet securities dealers are counting down to their large-scale entry into the cryptocurrency world and access to stablecoins,” shared X user _FORAB.
Techcombank Securities (TCBS) is also pioneering steps to tap into the cryptocurrency market in Vietnam. TCBS has integrated a cryptocurrency price board into its platform as it prepares for Vietnam’s largest-ever IPO by the end of 2025.
Although TCBS has not yet enabled cryptocurrency trading in Vietnam, this move has attracted attention from investors eager for digital assets. It demonstrates the company’s agility in capturing global financial trends.
According to Triple-A, Vietnam ranks among the top countries for cryptocurrency adoption, with over 21% of internet users owning digital assets. By integrating this crypto price board, TCBS leverages the trend to enhance its brand value and attract investors ahead of its IPO.
Significance of the Crypto Trading Trial Wave
The recent wave of cryptocurrency trading trials among traditional financial firms carries significant implications for the global market. Firstly, it indicates that cryptocurrencies are increasingly recognized as a legitimate asset class within the economic system.
Secondly, by testing crypto trading, financial firms position themselves to attract a broad customer base, particularly younger generations interested in blockchain technology. In Hong Kong, Futu Securities is capitalizing on this opportunity to expand its market share, while TCBS in Vietnam utilizes its crypto price board to boost its appeal ahead of its IPO.
Thirdly, these initiatives reflect a shift in traditional financial institutions’ understanding of the risks and potential associated with cryptocurrencies. While once wary of the volatility, firms are now integrating stablecoins like USDT to mitigate risks. This strategic move signals confidence in the future of digital currencies.
Recent actions by traditional financial companies to adopt stablecoins highlight this trend. For instance, Visa has partnered with the stablecoin infrastructure company Bridge to issue Visa cards linked to stablecoins. Similarly, Bank of America, Standard Chartered, PayPal, Revolut, and Stripe are entering the stablecoin market, aiming to capitalize on cross-border payments and the growing demand for cryptocurrency transactions.
Conclusion
The integration of cryptocurrencies by traditional financial firms marks a transformative shift in the finance landscape. As companies like Futu Securities and TCBS lead the way, the legitimacy and adoption of cryptocurrencies continue to grow. With these developments, investors can expect heightened collaboration between traditional finance and digital currencies, paving the way for broader acceptance and significant market evolution.
