Web3 News: Futu Hong Kong Launches Bitcoin and Ethereum Trading

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The world of Web3 continues to evolve at a rapid pace, with major developments across global markets—from new regulatory frameworks and institutional investment flows to innovative blockchain integrations and expanded trading access. In this comprehensive update, we explore the latest breakthroughs shaping the decentralized future, including Futu Hong Kong’s launch of Bitcoin and Ethereum trading, regulatory advancements in South Korea and the UK, and key ecosystem investments.

Telegram Unveils Browser and Mini-App Store

Telegram is taking a bold step into the decentralized web with the introduction of Telegram Browser and a Mini-App Store, announced by founder Pavel Durov. The new browser allows seamless switching between messaging and web browsing, supporting access to decentralized websites built on the TON (The Open Network) blockchain—known as TON Sites.

Users can now not only browse but also interact with Web3 services directly within Telegram. A standout feature is the integration of Telegram Stars, a digital currency that users can gift to content creators or spend within mini-apps. The upgraded Stories functionality further enables mini-apps to gain visibility across the platform, fostering organic growth within Telegram’s massive user base.

This move positions Telegram as a gateway to Web3 for millions, blending social interaction with decentralized finance and content monetization.

👉 Discover how decentralized platforms are reshaping digital engagement.

BIS and Bank of England Pioneer Stablecoin Oversight Platform

Regulatory scrutiny of stablecoins is intensifying, with the Bank for International Settlements (BIS) and the Bank of England (BoE) collaborating on Pyxtrial, a tokenized monitoring platform designed to track stablecoin balance sheets in real time.

Pyxtrial aims to ensure that asset-backed stablecoins maintain sufficient reserves at all times—specifically, that supporting assets exceed liabilities. By collecting, storing, and analyzing on-chain and off-chain data, the platform provides regulators with real-time insights into stablecoin operations, enabling faster detection of risks like liquidity shortfalls or reserve mismanagement.

This initiative marks a significant step toward global regulatory alignment for digital assets, emphasizing transparency and systemic stability in the rapidly growing stablecoin market.

Ripple Joins Fenasbac Accelerator to Boost Blockchain Innovation in Brazil

In a strategic push to expand its footprint in Latin America, Ripple has partnered with Fenasbac, the National Union of Central Bank Servers in Brazil, through its Next Accelerator Program. The collaboration focuses on advancing blockchain-based financial solutions tailored for Brazil’s evolving fintech landscape.

The program will support the development of scalable infrastructure, including enterprise-grade public blockchains like the XRP Ledger (XRPL). By fostering innovation in secure, efficient cross-border payments and financial inclusion, Ripple aims to help Brazilian institutions modernize legacy systems using distributed ledger technology.

This initiative highlights how global blockchain players are aligning with national financial ecosystems to drive real-world adoption.

U.S. Bitcoin Spot ETF Sees Modest Inflows

According to SoSoValue data, U.S. Bitcoin spot ETFs recorded a total net inflow of approximately $300,000 on July 31 (ET). While overall activity was relatively flat, notable movements occurred among key funds:

Despite outflows from some major players, continued inflows into IBIT and Grayscale’s newer BTC fund suggest sustained institutional interest in Bitcoin exposure through regulated vehicles.

Ethereum Spot ETF Faces Net Outflows

On the same day, Ethereum spot ETFs saw a total net outflow of about $77.21 million, indicating short-term investor caution despite long-term optimism.

Key fund movements included:

The significant outflow from ETHE—historically the largest Ethereum trust—suggests investors are shifting toward newer, lower-fee ETF structures now available.

South Korean Exchanges to Pay Regulatory Fees Starting Next Year

With the enforcement of South Korea’s Virtual Asset User Protection Act, major crypto exchanges—including Upbit, Bithumb, Coinone, and Gopax—will be required to pay regulatory fees starting next year. These fees, based on annual revenue, are expected to total around 300 million KRW (~$220,000 USD).

Breakdown by exchange:

The move underscores South Korea’s commitment to formalizing oversight of digital asset platforms, ensuring compliance, consumer protection, and market integrity.

"Regulatory fees are not just a cost—they're a signal of legitimacy in an evolving financial ecosystem."

Futu Hong Kong Launches Regulated Crypto Trading

In a landmark development for retail investors in Asia, Futu Hong Kong has officially launched virtual asset trading services regulated by the Securities and Futures Commission (SFC). Users can now trade Bitcoin (BTC) and Ethereum (ETH) against both Hong Kong dollars (HKD) and U.S. dollars (USD) using real-time exchange rates.

With a low entry threshold of just HK$80 or $10 USD, the platform makes crypto accessible to a broader audience. The offering includes four spot trading pairs: BTC/USD, BTC/HKD, ETH/USD, and ETH/HKD.

Beyond crypto, Futu provides access to:

This integration bridges traditional finance with digital assets, offering users a unified investment experience.

👉 See how integrated trading platforms are transforming investor access to digital assets.

Alchemy Pay Expands Into 29 European Markets

Alchemy Pay has extended its crypto-fiat payment infrastructure to 29 European countries via its On-Ramp service. This expansion enables users across Europe to seamlessly purchase cryptocurrencies using local payment methods, enhancing accessibility and adoption.

By bridging traditional banking systems with blockchain networks, Alchemy Pay is helping merchants and consumers participate in the digital economy without friction.

OKX Ventures and Aptos Foundation Launch $10M Ecosystem Fund

In a major boost for Web3 innovation, OKX Ventures and the Aptos Foundation have co-launched a $10 million fund dedicated to growing the Aptos ecosystem. The fund will support early-stage projects building on Aptos’ high-performance Layer 1 blockchain, focusing on areas like DeFi, NFTs, gaming, and developer tooling.

This partnership reflects a growing trend of venture arms investing in scalable, secure infrastructure to drive mass adoption of decentralized applications.

👉 Learn how ecosystem funds are accelerating Web3 innovation globally.

Frequently Asked Questions (FAQ)

Q: Is Futu Hong Kong’s crypto trading service regulated?
A: Yes, Futu Hong Kong's virtual asset trading platform operates under the supervision of the Hong Kong Securities and Futures Commission (SFC), ensuring compliance with local regulatory standards.

Q: What are the minimum investment amounts for crypto on Futu?
A: Investors can start with as little as HK$80 or $10 USD, making it accessible for retail users to enter the crypto market.

Q: Why did Ethereum spot ETFs see net outflows recently?
A: Outflows were largely driven by shifts from higher-fee legacy products like Grayscale’s ETHE to newer, more cost-efficient ETFs such as those from BlackRock and Fidelity.

Q: How does Pyxtrial help regulate stablecoins?
A: Pyxtrial provides regulators with real-time data on stablecoin reserves and liabilities, ensuring transparency and helping prevent systemic risks from undercollateralization.

Q: What is the purpose of Telegram’s integration with TON Sites?
A: It allows users to access decentralized websites directly within Telegram, promoting Web3 adoption through seamless user experience and native monetization via Stars.

Q: How will South Korea use the new regulatory fees from exchanges?
A: The fees will fund oversight activities by the Financial Supervisory Service (FSS), including audits, compliance checks, and investor protection initiatives.

Core Keywords:

This update reflects the accelerating convergence of traditional finance and decentralized technologies—ushering in a new era of accessible, regulated, and innovative digital asset ecosystems.