Interactive Brokers, an automated global cryptocurrency brokerage, launched its cryptocurrency trading service in Hong Kong on Monday. Professional investors on the Interactive Brokers platform can now trade bitcoin (BTC) and Ethereum (ETH).
According to Hong Kong capital market regulations, individuals with minimum investment assets of HKD 8 million and institutions with minimum investment assets of HKD 40 million are eligible to become Professional Investors, provided that they are residents or companies incorporated in Hong Kong.
Unifying Trading Experiences
The company said integrating BTC and ETH trading on Interactive Brokers’ platform will allow investors to have a “holistic customer experience” where they can trade digital assets “alongside many other global products from a single unified platform.”
“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce integrated services with cryptocurrencies to address trading objectives. of clients in this important market,” said David Friedland, Head of APAC, Interactive Brokers.
With commissions ranging from only 0.20% to 0.30% of the transaction value, the company stated in its PR program that cryptocurrency trading at Interactive Brokers Hong Kong can be even cheaper, with The launch of these services comes at a time when the digital asset market is being regulated and developed in Hong Kong.
Friedland added: “Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce integrated cryptocurrency offerings to address determine customers' trading goals in this important market."
Interactive Brokers offers centralized cash management to its clients, and clients can also trade BTC and ETH as well as stocks, options, event contracts, mutual funds and ETFs from same screen. These services at Interactive Brokers are provided by OSL Digital Securities, a digital asset brokerage and trading platform for professional investors licensed by the Securities and Futures Commission ( SFC - Securities and Futures Commission).
Hong Kong Is Moving On To Clear Regulations
Hong Kong's Securities and Futures Commission (SFC) is reportedly preparing a list of highly liquid whitelisted crypto assets for retail or amateur investors. Karma.
“Some virtual asset platforms have more than 2,000 products, but we do not plan to allow retail investors to trade all of them… We will set criteria to allow investors to sell Retail [only] trades major virtual assets,” Julia Leung Fung -yee said last month.
Through an amendment in December, the Hong Kong government brought the cryptocurrency industry under the purview of the Money Laundering and Terrorism Financing (Amendment) Bill 2022, making cryptocurrency exchanges Encryption requires a license before starting operations.
‘Interactive Brokers Launches BTC, ETH Trading in Hong Kong for Professional Investors’ was first posted on CryptoPotato.