Huang Chiyao's questions to Futu Holdings Ltd (FUTU) leadership • Q2 2025
Question
Huang Chiyao from Morgan Stanley asked about Futu's mid-to-long-term strategy for its cryptocurrency business, focusing on licensing, product roadmap, and monetization, particularly the upside from a Hong Kong crypto exchange license. He also inquired about the company's learnings and competitive strategy in the Japanese market after two years of operation.
Answer
CFO Arthur Yu Chen outlined a four-part crypto strategy called 'RACE' (Real-world assets, Advanced technology, Conversions, Exchange), explaining that a Hong Kong license would lower costs, enable institutional services, and unlock new revenue from derivatives and staking. Head of IR Jingyu (Daniel) Yuan addressed the Japan market, noting its unique value proposition for self-directed US stock investors. He highlighted Q2 initiatives like launching US options trading and a successful branding event with Nasdaq, which helped drive trading volume up over 50% QoQ.