moomoo has recorded a 50% uptick in the number of users purchasing cryptocurrency, with bitcoin remaining the most actively traded coin on the platform, the firm's crypto operations director said. The firm indicated that demand for digital assets is extending beyond the largest tokens as its customer base grows and diversifies.
Source of growth
Albi Mema, director of crypto operations at moomoo U.S., which operates under Nasdaq-listed Futu Holdings, said the growth reflects both migration of users from other trading venues and existing stock and options traders incorporating crypto into their portfolios. Mema described two clear driver groups: new users arriving from other exchanges and existing self-directed investors adding crypto exposure alongside equities and options.
“Since launching crypto wallets, we've seen users come to our platform from other exchanges to move funds on and off the platform, attracted in part by our lower costs,” Mema said, noting that the introduction of wallets has been a material factor in attracting customers. He also pointed to a broader product lineup, including event contracts, as an incentive drawing customers to use multiple services across moomoo's platform.
Changing token mix
While bitcoin and ether account for the majority of crypto trading activity on moomoo, Mema said the platform is seeing meaningful engagement with a wider set of tokens. “Assets such as XRP and HYPE have gained meaningful traction with our customers and consistently rank among the most actively traded coins on the platform,” he stated, indicating a shift in trading patterns beyond the majors.
Customer overlap and product competition
Mema described substantial overlap between users trading crypto and those active in stocks and options, characterizing the clientele as self-directed, multi-asset investors who increasingly treat crypto as part of a broader portfolio. This overlap suggests that existing brokerage relationships are evolving to include digital assets as a standard offering rather than a standalone product.
As access to crypto widens, brokers are competing on the quality of the surrounding experience, Mema said, listing data, charting, AI tools and educational resources as key differentiators. He contrasted institutional infrastructure with retail offerings, asserting that institutional players possess advanced custody, settlement data and risk systems, while retail investors have often had little more than a price feed and a buy button.
“Institutions have sophisticated custody, settlement data and risk infrastructure, while retail investors have often been given little more than a price feed and a buy button,” Mema said. “moomoo is narrowing that gap.”
This article reports the company's statements about customer behavior and product developments as presented by company representatives.