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Moomoo just opened the door wider in Texas. The Futu-owned brokerage rolled out a direct crypto deposit and withdrawal feature for U.S. users, letting Texas investors move digital assets between external Web3 wallets and their Moomoo accounts without jumping through extra hoops.
The feature is a bigger deal than it sounds. Until now, plenty of retail-focused brokerages let you buy and sell crypto on their platforms but kept your coins locked inside their walled garden — no moving assets in, no moving them out. Moomoo’s new setup breaks that wall. Users can bring crypto in from outside wallets, send it back out, and convert holdings into fiat currency to deploy across Moomoo’s broader lineup of equities and options products. All of it sits inside Moomoo Financial, Inc., so you’re not juggling five separate apps to manage a mixed portfolio. That’s kind of the whole pitch: one account, multiple asset classes, less friction.
Texas investors get access to 52 cryptocurrencies on the platform. The commission structure is $0 per trade, with a 0.49% transaction fee attached to crypto activity. Popular tokens available include MON and BNB, alongside a wider basket of more than 50 digital assets.
Albi Mema on the U.S. Crypto Push
Albi Mema, Director of Crypto Operations at Moomoo U.S., has been pretty direct about where the company wants to go. The goal is expanding crypto trading access across the United States, and the wallet feature is a concrete step in that direction. Mema tied the rollout to the company’s broader push to improve the user experience — not just add features for the sake of a press release, but actually make the platform more useful for people who hold crypto outside of Moomoo’s ecosystem.
The wallet integration supports connections with multiple external wallets and exchanges, so users aren’t limited to one outside provider. That flexibility matters more than it might seem. Crypto holders tend to spread assets across several wallets for security reasons, and forcing them to consolidate everything before they can trade is a real barrier. Moomoo’s setup skips that requirement.
It’s also worth noting that the Texas launch doesn’t exist in a vacuum. Moomoo has already rolled out crypto services in California, New Jersey, and Pennsylvania. Texas is the latest state added to that list, and the company has made clear it wants to keep expanding. Regulatory approval will be required at each step — that’s just the reality of operating across different U.S. state jurisdictions — and the continued rollout depends on clearing those hurdles.
IG Group’s UK License Adds Context
Separately, IG Group recently became the first UK-listed company to get a cryptoasset license from the UK Financial Conduct Authority. That license lets IG customers transfer crypto assets in and out of the platform — basically the same functionality Moomoo is now offering its U.S. users. The parallel is worth flagging because it’s not a coincidence. Regulated brokerages on both sides of the Atlantic are moving toward the same model: treat crypto like any other asset class, give users real custody flexibility, and bundle it alongside traditional financial products.
The broader retail brokerage industry has been edging this direction for a while. Crypto-only platforms built their user bases partly because traditional brokerages were too slow, too restrictive, or simply didn’t offer the wallet portability that serious crypto users wanted. Moomoo is basically saying it can compete on that front now.
Whether Texas retail investors actually move in meaningful numbers to the platform is unclear. Competition is stiff. Coinbase, Kraken, and a handful of other crypto-native platforms already have deep roots in the state. But the $0 commission angle and the multi-asset pitch — trade Bitcoin, then immediately rotate into an options position, all in one place — is a different value proposition than a pure-play crypto exchange can offer.
The 0.49% transaction fee is competitive enough not to be a dealbreaker for most retail traders, though high-frequency or high-volume traders will do the math carefully. No details yet on whether Moomoo plans tiered fee structures for larger accounts.
And the company still needs regulatory sign-off to keep the state-by-state expansion moving. That process is slow, sometimes unpredictable, and could stall momentum. But with California, New Jersey, Pennsylvania, and now Texas already on the board, Moomoo’s U.S. crypto footprint is growing fast.
The platform supports over 50 cryptocurrencies, with MON and BNB among the named tokens available to Texas users.
Hub: BNB price, news, and analysis
Frequently Asked Questions
What new crypto feature did Moomoo launch in Texas?
Moomoo introduced direct crypto deposit and withdrawal functionality, letting Texas users transfer cryptocurrencies between external Web3 wallets and their Moomoo accounts.
How many cryptocurrencies can Texas users trade on Moomoo, and what does it cost?
Texas investors can trade 52 cryptocurrencies with a $0 commission structure and a 0.49% transaction fee on crypto activity.
