Moomoo Moves Beyond Stocks with US Crypto Launch Backed by Coinbase

Moomoo, a global trading platform, is expanding into cryptocurrency. The company will launch a new service called Moomoo Crypto for its U.S. users. The launch is part of Moomoo’s plan to grow beyond traditional securities trading.

Moomoo operates in the United States, Australia, and Japan. It is a subsidiary of Futu, a Hong Kong-based online brokerage. In late 2023, Moomoo Japan entered the online brokerage market, offering local investors access to over 7,000 US-listed stocks.

Crypto Launches with Coinbase Support

"With Moomoo Crypto, we're bridging the gap between traditional and digital finance, providing our users with the tools and insights they need to navigate this dynamic market," said Neil McDonald, Moomoo's US CEO.

The new crypto service will begin with support for over 30 digital assets, including major cryptocurrencies such as Bitcoin and Ethereum. More tokens are expected to be added gradually. The rollout will introduce features and coins in phases.

Moomoo Crypto will be offered through Moomoo Financial. It will use Coinbase’s Crypto-as-a-Service platform for market access and trading infrastructure. This integration allows Moomoo to offer digital asset trading alongside its existing services.

“Our Crypto-as-a-Service offering is designed to help bridge traditional and digital finance, giving partners the infrastructure, security, and tools they need to confidently build in crypto and serve a wide range of users,” Brian Foster, Global Head of CaaS at Coinbase.

You may find it interesting at FinanceMagnates.com: Futu's New Paying Clients Surge 330% in Q1, Yet Profits Slip.

Copy Trading Coming to Moomoo Crypto

Users will be able to trade cryptocurrencies along with stocks and other financial products. The platform will include tools such as spot and advanced charting. Moomoo also plans to add crypto-specific features, including copy trading, by early September. Moomoo Crypto will offer 32 digital assets at launch.