interactive corridors enables its professional investor clients in Hong Kong to trade Bitcoin and Ethereum with the launch of its new cryptocurrency trading service.
American brokerage firm Interactive Brokers has listed cryptocurrency as a tradable asset class for investors using its Hong Kong platform.
With this, eligible clients, including individuals with more than HK$8 million in investable assets or institutions with assets of more than HK$40 million who are Hong Kong residents, can now trade Bitcoin and Ethereum. along with other asset classes available on the Interactive Brokers platform.
The commercial service is being driven by BC Technology Group subsidiary OSL Digital Valuesthat Interactive Brokers has designated as its exclusive distributor of virtual assets for Hong Kong in June 2022.
He Securities and Futures Commission (SFC) has licensed OSL Digital Securities as the industry's first class one and class seven digital asset trading and brokerage platform for professional investors.
Additionally, Interactive Brokers will charge 0.2 to 0.3 percent commission on all trade value, depending on monthly volume. Minimum orders start at $2.25 with no margins or extra margins.
A pivotal moment for Hong Kong's digital asset landscape
The launch of these services comes at a crucial moment in the evolution of regulated services. digital asset landscape in hong kong. Above all, the main driving force behind the potentially significant impact of this collaboration on the Hong Kong digital asset market is the growing interest of investors in digital assets.
โInvestor demand for digital assets continue to grow in Hong Kong and around the world, and we are pleased to introduce the cryptocurrency to address the business goals of clients in this important market,โ he explains. David FriedlandHead of Asia-Pacific (APAC) at Interactive Brokers.
"Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single, unified platform."
Previously, investors had to use multiple platforms from different brokers and exchanges to trade cryptocurrencies and other asset classes in Hong Kong. This unification of commercial services now overcomes this market barrier.
For this reason, the new cryptocurrency trading service included in the Interactive Broker platform gives investors a way to make transactions and view balances through a unified view from a single platform.
Supporting centralized cash management, the platform offers stocks, options, futures, bonds, event contracts, mutual funds, and exchange-traded funds (ETFs) as tradable assets in addition to its new cryptocurrency capabilities.
โWe are excited to bring our expertise in the digital asset space to market through these initiatives. The launch of regulated digital asset trading services marks the beginning of a transformation process in the digital asset market,โ said Hugh Madden, CEO of BC Group and OSL.
"We look forward to the emergence of additional market alliances that will drive growth and increase market share."
