Futu Holdings invests in Airstar Bank and extends the Moomoo app’s US stock trading to 24-hour availability in Singapore and Australia.
Futu Holdings invests in Airstar Bank and extends the Moomoo app’s US stock trading to 24-hour availability in Singapore and Australia.
Futu Holdings Limited has completed a significant HKD440 million investment in Gravitation Fintech HK Limited, the parent company of Airstar Bank. Moreover, this strategic move positions Futu as the second largest beneficial owner of Airstar Bank, with an indirect 44.11% stake in the licensed virtual bank based in Hong Kong.
Futu Holdings operates digital investment platforms such as Futubull and Moomoo. These platforms offer a comprehensive suite of services, including trade execution, margin financing, securities lending, and wealth management.
These platforms also feature embedded social media tools, fostering a network among users, investors, companies, analysts, media, and opinion leaders. Additionally, Futu provides corporate services like IPO distribution, investor relations, and Employee Stock Ownership Plan solutions.
Moreover, Moomoo, the trading application by Futu Holdings, has recently expanded its services by enabling round-the-clock trading for US stocks in Singapore and Australia. According to Finance Magnates, this enhancement permits users to trade more than 100 US stocks and ETFs throughout the week.
Previously, Moomoo supported 16-hour US trading, including regular and pre/post-market hours. The extension now enables Australian users to trade from 10 AM Monday to 10 AM Saturday (AEST) and Singaporean users from 8 AM Monday to 8 AM Saturday (SGT).
This development marks Moomoo’s pioneering effort to offer round-the-clock trading in Singapore and Australia, following similar initiatives in Hong Kong. Despite regulatory challenges in mainland China, which led to removing the Futubull app from app stores, Futu continues to provide its services to existing clients, maintaining access to US and Hong Kong stock markets. Lastly, Futu’s latest investment and service expansion underscores its commitment to enhancing financial accessibility and convenience for its global user base, positioning the company as a leading player in the fintech industry.
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