Interactive Brokers Launches Crypto Trading Services for Institutional Clients

Interactive Brokers, the global brokerage company based in the United States made an announcement on February 14 that it will launch its cryptocurrency trading services to institutional customers in Hong Kong. The cryptocurrency trading services are now available to the public in conjunction with OSL Digital Securities. OSL Digital Securities is a digital asset brokerage and trading portal for professional investors, and is regulated under the Securities and Futures Commission.

Hong Kong residents who have more than HK$8M ($1,000,000) in investable assets or institutions with more than HK$40M ($6,000,000) may be able to trade. cryptocurrencies Other asset classes can be found on the Interactive Brokers platform.

Before the Interactive Broker platform, investors had to use multiple trading platforms offered by many brokers and exchanges in order to trade cryptocurrencies or other asset classes. Investors can now trade cryptocurrency and view their balances using the Interactive Broker platform. It provides a consolidated overview of all their accounts.

Interactive Brokers clients can trade options, futures and bonds as well as stocks, options and mutual funds. All this from one screen. Clients can use centralized cash management (ETH).

The introduction of trading services to cryptocurrencies is an important step in the development the Hong Kong regulated digital asset markets. Paul Chan, Hong Kong’s finance secretary, declared in January that the Hong Kong government would be open to fintech and cryptocurrency firms by 2023. Paul Chan claimed that the Hong Kong government was open to fintech companies in 2023. According to the official, many corporations want to either expand their operations in Hong Kong or list their companies on local markets.

In December 2022, Hong Kong’s legislators reached a consensus to adopt new legislation to create a licensing system that allows businesses to offer services related to virtual assets. This legislation was passed. The new regulatory framework was approved. It is designed to allow cryptocurrency exchanges to have the same market acceptance as conventional financial institutions.



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