• Interactive Brokers (IBKR) has begun offering bitcoin and ethereum trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.
• Eligible clients include individuals with over 8 million Hong Kong dollars in investable assets and institutions with over 40 million Hong Kong dollars.
• Mixed signals have come out of Hong Kong in recent months regarding its future regulatory environment for crypto.
Interactive Brokers Rolls Out BTC, ETH Trading to Professional Investors in Hong Kong
Interactive Brokers (IBKR) has begun offering bitcoin and ethereum trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities. Eligible clients include individuals with over 8 million Hong Kong dollars in investable assets and institutions with over 40 million Hong Kong dollars.
Crypto Policy Outlook for Hong Kong
Mixed signals have come out of Hong Kong in recent months regarding its future regulatory environment for crypto. Its Financial Services and Treasury Bureau said in October that it was exploring allowing retail customers to trade crypto or approving a crypto exchange-traded fund (ETF).However, Julia Leung (then the deputy CEO of the Securities and Futures Commission and now the CEO) called for tougher rules on crypto firms, highlighting how the FTX exchange’s collateralized token offerings could be seen as securities under existing regulations.
Cryptocurrency Platforms
Interactive Brokers and OSL’s aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds etc. The two firms teamed up to introduce crypto trading services back June citing the city’s high concentration of institutional and professional investors.
Hong Kong Ambition
Hong Kong’s government is looking to reclaim its status as Asia’s financial leader by creating a digital asset hub within the region which includes competitive tax rates for cryptocurrency businesses operating within the territory as well as appropriate regulations that do not stifle innovation yet protect investors from fraud or manipulation attempts within these markets.
Conclusion
The introduction of cryptocurrency trading services by IBKR will play an essential role into making this ambition a reality as it provides individuals with access to professional investment opportunities while also providing institutions much needed liquidity into these markets so they can gain exposure or hedge their positions accordingly.