According to online reports, Mr. Zeng Yuchao, managing director of Futu Group, talked about Futu's virtual license for compliance operations when commenting on hot topics in the market. In July 2024, the No. 1 license held by Futu Securities, a subsidiary of Futu Group, was successfully upgraded. Virtual asset trading services can be provided to Hong Kong investors, including retail investors. In August 2024, Futu Securities was officially licensed and compliant to provide four spot trading pair services including Bitcoin, Ethereum, US dollar and Hong Kong dollar to qualified Hong Kong individual investors, and will gradually expand to include LINK and AVAX. More trading pairs, as well as more functions such as coin charging and withdrawing. In January 2025, Panthertrade, a subsidiary of Futu Group, officially obtained the Virtual Asset Trading Platform License (VATP) issued by the Hong Kong Securities and Futures Commission. According to the regulatory requirements of the Hong Kong Securities and Futures Commission, the official exhibition of virtual asset trading platform licenses needs to be completed in stages. At present, Cheetah Trading is actively cooperating with the China Securities Regulatory Commission to carry out the second phase of evaluation work, including the evaluation of policies, procedures, systems and monitoring measures. After completing the evaluation, it can officially expand its business to the outside world. In other words, Futu Securities International (Hong Kong) Co., Ltd. and Cheetah Trading (Hong Kong) Co., Ltd., two Hong Kong licensed entities under Futu Group, have obtained a No. 1 upgrade and a virtual asset trading platform license (VATP) respectively. Two licenses can create a more closed-loop and competitive ecosystem.