Interactive Brokers, a worldwide brokerage agency with headquarters in the US, introduced the launch of its crypto buying and selling companies for institutional purchasers in Hong Kong on Feb. 14. The crypto buying and selling companies had been launched in affiliation with OSL Digital Securities, a Securities and Futures Fee-licensed digital asset brokerage and buying and selling platform for skilled traders.
People with greater than 8 million Hong Kong {dollars} ($1 million) in investable belongings, or establishments with HK$40 million ($6 million), who’re Hong Kong residents, can now commerce cryptocurrency alongside different asset lessons out there on the Interactive Brokers platform.
Traders beforehand had to make use of quite a lot of buying and selling platforms from numerous brokers and exchanges as a way to commerce cryptocurrencies and different asset lessons. Nonetheless, traders can commerce cryptocurrency and look at balances by way of a single platform that gives a unified view by utilizing the Interactive Dealer platform.
Purchasers of Interactive Brokers use centralized money administration to commerce shares, choices, futures, bonds, occasion contracts, mutual funds and exchange-traded funds from a single display along with Bitcoin (BTC) and Ether (ETH).
Associated: Hong Kong securities regulator provides crypto personnel for trade supervision
The launch of crypto buying and selling companies happens at a vital juncture in Hong Kong’s regulated digital asset market growth. Paul Chan, the monetary secretary for Hong Kong, acknowledged in January that the Hong Kong authorities is open to working with cryptocurrency and fintech companies in 2023. The official added that many enterprise organizations needed to extend their operations in Hong Kong or to record on native exchanges.
In December 2022, lawmakers in Hong Kong authorised laws to create a licensing scheme for firms that provide companies associated to digital belongings. The brand new regulatory framework is meant to offer cryptocurrency exchanges the identical stage of market acceptance because the one that’s presently in place for conventional monetary establishments.
