Moomoo, the US-based brokerage arm of Hong Kong’s Futu Holdings, has launched cryptocurrency trading in Texas and rolled out direct crypto deposit and withdrawal functionality for retail clients across its licensed US states. Texas investors can now access 52 digital assets on the platform, joining users in California, New Jersey, and Pennsylvania where the service already operates.
The newly introduced direct deposit and withdrawal feature enables customers to transfer supported cryptocurrencies between external Web3 wallets and their Moomoo accounts, offering on-chain movement of digital assets through Moomoo Crypto Inc. The platform allows conversion of crypto holdings into fiat currency, with proceeds available for trading in equities, options, and other investment products offered through Moomoo Financial Inc. The firm promotes zero-commission trading alongside a 0.49 percent transaction fee structure.
The development mirrors recent regulatory progress in the UK, where IG Group obtained a cryptoasset licence from the Financial Conduct Authority, becoming the first UK-listed firm on the FCA’s cryptoasset register with similar transfer capabilities. For brokers expanding into digital assets, the separation of crypto operations into distinct legal entities while maintaining unified client access represents an emerging structural approach to managing regulatory requirements across traditional securities and cryptocurrency offerings. The state-by-state rollout reflects the fragmented US regulatory landscape for digital asset services.
FXnCO Insight
Multi-asset brokers pursuing crypto integration should consider jurisdictional licensing pathways carefully, as entity separation strategies and wallet custody features increasingly differentiate competitive positioning while addressing compliance fragmentation.
Source: Finance Magnates