Moomoo Reports 50% Rise in Crypto Buyers as Retail Interest Expands

Retail brokerage moomoo has experienced a 50% increase in users trading cryptocurrency, signaling broadening demand for digital assets among self-directed investors. The growth reflects both an influx of new clients from other venues and existing equity traders adding crypto to their portfolios, according to a company executive.

Drivers of Growth

Albi Mema, director of crypto operations at moomoo U.S., told Investing.com that the platform is attracting users from competing exchanges. He attributed the growth to competitive costs and a wider range of products, including event contracts, which draw customers across the entire platform.

"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. Moomoo U.S. is a subsidiary of the Nasdaq-listed Futu Holdings.

Trading Trends Evolve

While Bitcoin and Ether continue to represent the majority of crypto trading volume on the platform, Mema noted a significant diversification in user activity. He said that a large portion of the platform's crypto users also trade stocks and options, treating digital assets as part of a larger, integrated investment strategy.

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"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," Mema stated, highlighting a shift beyond the two largest cryptocurrencies.

Competing on Infrastructure

As crypto trading becomes more mainstream, Mema said brokerages are increasingly competing on the quality of the overall user experience, including data, charting, and educational tools. He emphasized the importance of closing the infrastructure gap between institutional and retail investors.

"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 explained. He added that moomoo aims to narrow this gap by providing more advanced tools to its user base.