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Article: Tencent-backed online trading platform Futu presses ahead with Singapore, US expansion plans

Impact Score

5 / 10

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Futu Holdings is advancing global expansion plans, targeting a Singapore launch by April to serve as both a financial hub and gateway to Southeast Asia. The company also aims to enter the US market next year, seeking to attract millions of users and reduce reliance on third-party service providers. Founder Leaf Li Hua expresses ambition to emulate the success of US firm Charles Schwab, but with a distinct approach tailored for its strategy.

The main topics covered are Futu's international expansion into Singapore and the US, its strategic rationale for these markets, and its operational evolution in the United States.

Original URL

https://www.scmp.com/business/companies/article/3115510/tencent-backed-online-trading-platform-futu-presses-ahead?utm_source=rss_feed

Source Feed

Innovation - South China Morning Post

Published Date

2020-12-28 04:30

Fetched Date

2026-03-04 14:33

Processed Date

2026-03-04 15:08

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Present

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Raw Extracted Content

Tencent-backed online trading platform Futu presses ahead with Singapore, US expansion plans
- Futu Holdings could use Singapore as a foothold to expand in Southeast Asia, founder Leaf Li Hua says
- Li wants to replicate US financial giant Charles Schwab’s success, but with Chinese characteristics
Nasdaq-listed Futu Holdings is on track to launch its Singapore operations by April and is simultaneously eyeing expansion in the US next year as part of its global plans, according to the founder and chairman of the online brokerage platform.
“Singapore is one of the major financial centres in the world, while it can also serve as a bridge to Southeast Asia,” said Leaf Li Hua, in an exclusive interview at the firm’s headquarters in Shenzhen.
Li said the big potential of the US market was a part of the motivation behind Futu’s decision to start its expansion in America, where “we are aiming to gain at least a few million users”.
“We completely relied on our third-party service provider Interactive Brokers for our US operations before we started our own company and received the US licence,” Li said.