Retail broker moomoo has recorded a 50% increase in the number of users purchasing cryptocurrency.
Bitcoin remains the most actively traded coin, but demand for digital assets is extending beyond the major coins, a company representative told Investing.com this week.
Albi Mema, Head of Crypto Operations at moomoo U.S.—a subsidiary of the Nasdaq-listed Futu Holdings—noted that the growth is driven by both an influx of new users from other platforms and activity from existing stock and options traders adding cryptocurrency to their portfolios.
"Since launching cryptocurrency wallets, we have seen an influx of users from other exchanges, drawn in part by our lower fees," Mema commented, adding that an expanded product lineup, including event contracts, is attracting clients to the platform.
Bitcoin and Ether account for the bulk of cryptocurrency activity on moomoo, though the trading landscape is broadening. "Assets such as XRP and HYPE have gained significant popularity among our clients and consistently rank among the most actively traded coins on the platform," Mema stated.
He also highlighted a significant overlap between the platform's crypto users and those trading stocks and options, describing a self-directed, multi-asset investor base that increasingly views cryptocurrency as part of a diversified portfolio.
As access to cryptocurrencies widens, brokers are competing on the quality of ancillary services—such as data, charts, AI-driven tools, and educational materials—while also striving to bridge the gap between institutional and retail infrastructure, Mema noted.
"Institutional players have sophisticated infrastructure for asset custody, settlement, and risk management, whereas retail investors have often been offered little more than a price feed and a buy button," he said. "moomoo bridges this gap."