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NASDAQ-listed Interactive Brokers to offer crypto trading in Hong Kong

Interactive Brokers, a world brokerage agency with headquarters in the US, announced the launch of its crypto buying and selling providers for institutional shoppers in Hong Kong on Feb. 14. The crypto buying and selling providers 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 buyers.

People with greater than 8 million Hong Kong {dollars} ($1 million) in investable property, or establishments with HK$40 million ($6 million), who’re Hong Kong residents, can now commerce cryptocurrency alongside different asset courses out there on the Interactive Brokers platform.

Traders beforehand had to make use of a wide range of buying and selling platforms from varied brokers and exchanges in an effort to commerce cryptocurrencies and different asset courses. Nevertheless, buyers can commerce cryptocurrency and consider balances by a single platform that gives a unified view by utilizing the Interactive Dealer platform.

Shoppers 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 business supervision

The launch of crypto buying and selling providers happens at a essential juncture in Hong Kong’s regulated digital asset market growth. Paul Chan, the monetary secretary for Hong Kong, said 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 wished to extend their operations in Hong Kong or to listing on native exchanges.

In December 2022, lawmakers in Hong Kong accredited laws to create a licensing scheme for corporations that provide providers associated to digital property. The brand new regulatory framework is meant to present cryptocurrency exchanges the identical degree of market acceptance because the one that’s at the moment in place for conventional monetary establishments.

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