Chinese online brokerages Tiger Brokers and Futu plan to bolster crypto trading services, taking on global players Robinhood and eToro, as per a report in the South China Morning Post today.
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Two Chinese online brokerages have set out to enter the global crypto trading market. The platforms, Tiger Brokers and Futu, are planning to offer their services only outside the People’s Republic as Beijing is once again cracking down on bitcoin trading in the country.
As China continues its crackdown on cryptocurrencies, some companies in the region are not lying low to take the heat. According to a recent report, two Chinese online brokerages have decided to expand their business to include crypto trading abroad.
PlanB argues that Bitcoin is trading far below its historical relationship with stocks and gold. The current $BTC price is beneath long-term regression trends.