According to reports, three cryptocurrency ETFs listed on the Hong Kong exchange are now available for trading at the city’s largest banks.

The Hong Kong and Shanghai Banking Corporation (HSBC), Hong Kong’s largest bank, has reportedly launched its first local cryptocurrency service.

Hong Kong’s HSBC has allowed its customers to buy and sell Bitcoin and Ethereum based exchange-traded funds (ETFs), reporter Colin Wu reported on Twitter on June 26.

According to reports, HSBC will exclusively offer cryptocurrency ETFs listed on the Hong Kong Exchange (HKEX). As of this writing, HKEX lists three cryptocurrency ETFs, including the CSOP Bitcoin Futures ETF, the CSOP Ethereum Futures ETF, and the Samsung Bitcoin Futures Active ETF.

The move aims to expand local users’ exposure to cryptocurrencies in Hong Kong. According to online reports, HSBC Hong Kong had 1.7 million active mobile customers as of March 2022. According to reports, around 95% of HSBC Hong Kong’s retail transactions are processed online. HSBC Hong Kong did not immediately respond to Cointelegraph’s request for comment. This article will be updated with new information. According to reports, HSBC launched a virtual asset investor education center and launched new services at the same time. The initiative aims to protect investors from cryptocurrency-related risks by requiring them to read and confirm educational materials and risk disclosures before starting to invest.

According to reports, the education center will be available on HSBC’s virtual asset-related products, such as the HSBC HK Easy Invest app, HSB CHK mobile banking app and online banking.

Not long ago, some media reported that the Hong Kong Monetary Authority was pressuring major banks to accept cryptocurrency exchanges as customers. Central banks and regulators in the region have specifically questioned why companies such as HSBC and Standard Chartered do not include any cryptocurrency exchanges as customers. #BTC