Introduction
The trading platform moomoo is entering the cryptocurrency market with their forthcoming debut of Moomoo Crypto—an offering that promises widespread coin diversity and exclusive trading capabilities for the US market. The expansion is one of many strategies adopted by trading platforms amidst the cryptocurrency boom, fuelled by Bitcoin’s recent record-breaking highs.
Moomoo’s Foray into Crypto
With the mainstream acceptance of digital currencies and Bitcoin breaking several records, moomoo has decided to partake in the crypto action. The company disclosed its intent to launch their crypto offering, dubbed as Moomoo Crypto, on Tuesday. Aimed initially at existing US users, the tentative date to set the ball rolling has been decided for June 6, 2025.
Moomoo is a subsidiary of Nasdaq-listed Futu Holdings Ltd, and with this offering, they aim to diversify the trading options available to their customers further. Their bold attempt to introduce cryptocurrency trading to the mainstream market indicates promising growth in the digital currency trading sphere.
The Offering: Moomoo Crypto
With plans to commence trading with an unprecedented menu of 32 coins, including high-demand cryptocurrencies like Bitcoin and Ethereum, Moomoo Crypto aims to offer more cryptocurrency options than any other traditional online broker to the US market. Hitherto, Robinhood, a popular investment platform known for offering commission-free trades, has held the throne for the widest crypto selection in the US with its choice of 28 coins.
Expressing the motivation behind the move, Moomoo’s US CEO, Neil McDonald mentioned, “As digital assets continue to gain mainstream adoption, we saw a clear opportunity to apply our expertise in creating accessible yet sophisticated investment tools for crypto space.”
Impact of Bitcoin on the Crypto Market
Last week, Bitcoin hit a record high of nearly $112,000, bolstering optimism among investors and further accelerating the acceptance of cryptocurrencies. This surge also owes to projected support for the asset class from the Trump administration and allies in Congress. Added fuel has come from earlier directives by President Donald Trump for the Treasury to set up a Strategic Bitcoin Reserve.
Moomoo’s Future Strategy
After rolling out its crypto offering to existing users, Moomoo aims to broaden its horizons by reaching out to new customers in forthcoming months. To enable its customers with the necessary infrastructure and market access for successful cryptocurrency trading, the advanced platform plans to utilize Coinbases Crypto-as-a-Service (CaaS) scheme.
Upon the official curtain-raiser of Moomoo Crypto, the platform will find its place alongside other traditional online brokers such as Robinhood, Interactive Brokers, eToro, and Fidelity that offer cryptocurrency trading.
Feature Comparison of Popular Online Brokers
When compared to other brokers, the features of Moomoo Crypto distinctly stand out. For instance, Robinhood offers 28 cryptocurrencies and has a minimum deposit requirement of $0. The platform doesn’t charge any crypto transaction fees. Fidelity Investments, on the other hand, only offers three cryptocurrencies and requires a minimum $1 deposit, charging 1% in transaction fees.
Interactive Brokers, similar to Robinhood, does not demand any minimum deposit and offers 8 cryptocurrencies. Their transaction fees range from 0.12% to 0.18%, with a minimum of $1.75 per order, with no extra spreads, markups, or custody fees. Lastly, eToro requires a hefty deposit amount ranging between $50-$200 based on country of residency and offers 30 cryptocurrencies. However, most of these can only be bought and not sold.
In conclusion, as digital currency acceptance continues to proliferate, platforms like Moomoo show great promise in establishing a strong footing in the crypto market with diverse offerings and user-friendly tools.
