NASDAQ-listed Interactive Brokers to offer crypto trading in Hong Kong
Interactive Brokers is an international brokerage company headquartered in the United States. announced launching its cryptocurrency trading services for institutional clients in Hong Kong on February 14th. Cryptocurrency trading services have been launched in conjunction with OSL Digital Securities, a Securities and Futures Commission licensed digital asset brokerage and trading platform for professional investors.
Individuals with over HK$8 million ($1 million) in investment assets or institutions with HK$40 million ($6 million) who are residents of Hong Kong can now trade cryptocurrencies along with other asset classes available on the platform Interactive Brokers.
Previously, investors had to use various trading platforms from various brokers and exchanges to trade cryptocurrencies and other asset classes. However, investors can trade cryptocurrencies and view balances through a single platform that offers a unified view with the Interactive Broker platform.
Interactive Brokers clients use centralized cash management to trade stocks, options, futures, bonds, event contracts, mutual funds and exchange-traded funds from a single screen in addition to bitcoin (BTC) and ether (ETH).
Hong Kong Securities Regulator Adds Crypto Staff to Oversee Industry
The launch of cryptocurrency trading services comes at a critical time in the development of Hong Kong’s regulated digital asset market. Paul Chan, Hong Kong’s financial secretary, said in January that the Hong Kong government is open to dealing with cryptocurrencies and fintech companies in 2023. The official added that many business organizations wanted to expand their operations in Hong Kong or enter local exchanges.
In December 2022, Hong Kong legislators approved legislation to create a licensing scheme for companies offering services related to virtual assets. The new regulatory framework is intended to give cryptocurrency exchanges the same level of market acceptance that traditional financial institutions currently enjoy.
Credit : cointelegraph.com