Moomoo Crypto continues to expand its U.S. business footprint. The company disclosed that the platform is now live in Texas, where users can trade 52 cryptocurrencies with zero commissions and a minimum transaction fee of 0.49%.
Synchronize wallet deposits and withdrawals
The company also announced the launch of Direct Crypto Deposit and Withdraw for all U.S. users, enabling seamless two-way transfers of supported digital assets between external Web3 wallets and moomoo accounts.
This means users can transfer crypto assets from external wallets to the platform, and also withdraw platform assets externally. Once deposited, assets can be converted into fiat currency within the same account interface and used for trading other products such as stocks and options.
Texas has become the fourth state to launch.
This is also the fourth state where Moomoo Crypto has launched in the U.S. Previously, the service has been available in California, New Jersey, and Pennsylvania. With Texas now included, the platform reaches an even larger portion of the U.S. retail trading market.
Moomoo is a platform under Futu Holdings, a parent company listed on Nasdaq under the stock ticker FUTU. Under current U.S. practices, platforms typically must first comply with individual state requirements for money transmission or brokerage services before offering cryptocurrency trading to residents in those states.
Platform supports multi-asset account model
From a business structure perspective, Moomoo is promoting an integrated account model for crypto, stocks, and options to reduce the impact of volatility in single-crypto trading cycles on platform activity. Texas is also one of the U.S. states with high retail investment activity, and this expansion helps the platform continue to broaden its user base.
- Texas users can now trade 52 cryptocurrencies.
- Zero commission on trades, with a minimum fee of 0.49% per transaction.
- U.S. users can use external wallet deposit and withdrawal functions.
Additional information: As part of the Texas launch promotional activities, the platform is also offering a limited-time Bitcoin reward program for new crypto users, though the reward amount and duration are not disclosed in the original text.