Interactive Brokers, one of the world’s largest brokerage firms, has opened cryptocurrency trading for retail clients in Hong Kong.
According to reports on November 28 announcement, the service is provided in conjunction with OSL, one of the first cryptocurrency exchanges in Hong Kong to obtain Virtual Asset Service Provider (VASP) status. “Interactive Brokers’ retail investors in Hong Kong can now instantly trade digital assets through a single unified platform powered by OSL,” the developers wrote.
Interactive Brokers’ Hong Kong clients can hold Bitcoin (BTC) or Ethereum (ETH) as well as stocks, derivatives, commodities, foreign exchange and other assets in their personal accounts, according to its website. Each transaction charges a commission equivalent to 0.20% to 0.30% of the transaction amount.
Last week, Cointelegraph reported that Interactive Brokers had obtained a Hong Kong retail virtual asset trading license.However, only the license Grant The company currently brokers Bitcoin and Ethereum transactions.
On November 14, BC Technology Group, a subsidiary of OSL Exchange, announced that it had received a US$90 million equity investment from blockchain company BGX. The company had previously considered selling OSL Exchange for HK$1 billion (approximately US$128 million).
Although Hong Kong was one of the first jurisdictions to issue cryptocurrency exchange licenses, a series of exchange scandals have dampened the momentum to some extent. In September, JPEX, one of the region’s largest cryptocurrency exchanges, collapsed, resulting in the arrest of 66 people. estimated The loss was HK$1.6 billion (US$205 million). On November 25, Hounax, another unlicensed cryptocurrency exchange in Hong Kong, It is said Defrauded 145 residents of HK$148 million (US$18.9 million) through an alleged Ponzi scheme.
RELATED: Hong Kong authorities say Hounax scam cost 145 victims $18.9 million
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