- Last week Interactive Brokers was granted a retail virtual asset trading license in Hong Kong.
- The service will be offered in partnership with OSL.
One of the world’s leading brokerage companies, Interactive Brokers, has started crypto trading for retail customers in Hong Kong. This service was announced on November 28th and is provided in partnership with OSL, which was one of the first cryptocurrency exchanges in Hong Kong to be certified as a VASP.
The developers stated:
“Interactive Brokers’ retail investors in Hong Kong now have immediate access to digital asset trading through a single unified platform powered by OSL.”
Offering Means of Diversification
As stated on the website, Interactive Brokers allows its Hong Kong customers to keep Bitcoin or Ether in their personal accounts alongside a variety of assets such as equities, futures, commodities, currency, and more. The fee for each trade ranges from 0.20 to 0.30 percent of the total amount of the transaction.
David Friedland, the head of APAC for Interactive Brokers, stated:
“As demand for cryptocurrency exposure as a means of diversification continues to rise, we are pleased to offer investors in Hong Kong a straightforward and cost-effective way to allocate a portion of their portfolio to digital assets.”
It was reported last week that Interactive Brokers had been granted a retail virtual asset trading license in Hong Kong. Having said that, the company can currently only broker Bitcoin and Ether transactions thanks to the license.
The OSL exchange-owned BC Technology Group said on November 14 that blockchain company BGX has invested $90 million in the company. The company has deliberated selling the OSL exchange for $128 million, or 1 billion Hong Kong dollars, in the past.
Several exchange scandals have dampened the enthusiasm for crypto trading in Hong Kong, despite the region’s early licensing of exchanges.
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