Interactive Brokers, a global electronic broker, launched cryptocurrency trading in Hong Kong on Monday. Professional investors on the Interactive Brokers platform can now trade bitcoin (BTC) and Ethereum (ETH). To qualify for Professional Investor status, individuals must have a minimum of HKD 8 million and institutions must have a minimum of HKD 40 million in investible assets. The integration of BTC and ETH trading on the Interactive Brokers’ platform will allow investors a “unified client experience” where they can trade digital assets “alongside many other global products from a single unified platform”. The launch of these services comes at a time when a regulated digital asset market is evolving in Hong Kong. Interactive Brokers offer centralized cash management to its clients, allowing them to trade BTC and ETH as well as stocks, options, event contracts, mutual funds, and ETFs from the same screen. The services are brought by OSL Digital Securities, a digital asset brokerage and trading platform for professional investors licensed by the Securities and Futures Commission (SFC). The SFC is reportedly preparing a list of highly liquid whitelisted crypto assets for non-professional or retail investors. The Hong Kong government also brought the cryptocurrency industry under the purview of the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022, making it mandatory for crypto exchanges to obtain licenses before starting operations.
Interactive Brokers, an automated global electronic broker, has launched cryptocurrency trading in Hong Kong on Monday. This new service is available to professional investors enlisted on the Interactive Brokers platform, allowing them to trade bitcoin (BTC) and Ethereum (ETH). To qualify for Professional Investor status, individuals must have a minimum of HKD 8 million and institutions must have a minimum of HKD 40 million in investible assets.
The integration of BTC and ETH trading on the Interactive Brokers’ platform will allow investors a “unified client experience” where they can trade digital assets “alongside many other global products from a single unified platform”. This launch comes at a time when a regulated digital asset market is evolving in Hong Kong. Interactive Brokers offer centralized cash management to its clients, allowing them to trade BTC and ETH as well as stocks, options, event contracts, mutual funds, and ETFs from the same screen. The services are brought by OSL Digital Securities, a digital asset brokerage and trading platform for professional investors licensed by the Securities and Futures Commission (SFC).
The SFC is reportedly preparing a list of highly liquid whitelisted crypto assets for non-professional or retail investors. This list will allow retail investors to only trade in major virtual assets. The Hong Kong government has also brought the cryptocurrency industry under the purview of the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022, making it mandatory for crypto exchanges to obtain licenses before starting operations.
The launch of cryptocurrency trading at Interactive Brokers Hong Kong could prove to be much cheaper, with 0.20% to 0.30% of trade value as commission. This could be a great opportunity for professional investors in Hong Kong to get involved in the cryptocurrency market. With the current regulatory clarity, investors can now trade digital assets with confidence.
