Moomoo Expands Texas Crypto Offering With Wallet Deposit and Withdrawal for Retail Investors

Moomoo, a subsidiary of Hong Kong-based online brokerage Futu, has expanded its cryptocurrency trading services to investors in Texas and introduced a new direct crypto deposit and withdrawal feature for U.S. users, according to a company statement.

A relevant comparison can be drawn with IG Group, which has been granted a cryptoasset licence by the UK Financial Conduct Authority. The licence allows the firm to expand its crypto offering and makes IG the first UK-listed company to join the FCA’s cryptoasset register.

Following the licence approval, customers are expected to gain the ability to transfer crypto assets in and out of the platform.

Texas Crypto Rollout Expands Moomoo Platform

With the rollout in Texas, users in the state now have access to 52 cryptocurrencies on the platform. The company said trading carries “$0 commission*”. The expansion extends Moomoo’s crypto services across several U.S. states, including California, New Jersey, Pennsylvania and Texas.

Alongside the geographic expansion, Moomoo launched a Direct Crypto Deposit & Withdraw feature. The function allows users to transfer supported cryptocurrencies between external Web3 wallets and their Moomoo accounts.

The company said this enables users to move assets on-chain through Moomoo Crypto, Inc., while maintaining access to equities, options and other asset classes through Moomoo Financial, Inc.

The firm said the system allows users to convert crypto holdings into fiat currency within the platform, with funds then available for use across other investment products offered on Moomoo.

$FUTU Moomoo Expands Crypto Trading to Texas and Launches Direct Crypto Transfers, Advancing Unified Multi-Asset Investing- Texas investors can trade 52 cryptocurrencies with $0 commission and a 0.49% transaction fee. - The platform now supports on-chain transfers between…

Platform Adds Wallet Connections and Transfers

Albi Mema, Director of Crypto Operations at Moomoo U.S., said the firm is “actively expanding access to crypto trading across the U.S.” while continuing to build additional features aimed at enhancing the investing experience. He added that the Texas expansion and introduction of “direct crypto transfers” reflect the company’s focus on “meeting investors where they are.”

The platform said it supports connections with multiple external wallets and exchanges and provides access to more than 50 cryptocurrencies in the U.S., including tokens such as MON and BNB.