Interactive Brokers launches crypto trading in Hong Kong
Interactive Brokers (Nasdaq: IBKR) has expanded its cryptocurrency offerings to the Asian markets as it launched crypto trading services in Hong Kong. The addition of digital assets came with a growing interest among the broker’s clients.
The offers were announced on Tuesday and are limited to just two cryptocurrencies: Bitcoin and Ethereum, the top two by market capitalization. In addition, the US-headquartered broker will allow professional investors in the autonomous jurisdiction to trade the two cryptocurrencies.
To qualify to trade cryptocurrencies on interactive brokers, individual Hong Kong residents must have over HKD 8 million in investable assets, while institutions should have assets of more than HKD 40 million.
“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce cryptocurrency to meet the trading objectives of clients in this important market,” said Interactive Brokers’ Head of APAC, David Friedland. “Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single, unified platform.”
Interactive Brokers actually takes a commission of 0.2 to 0.3 percent of the cryptocurrency trading volume, which will also depend on the monthly volume. However, there will be a minimum charge of $2.25 per order with no additional markups or margins.
Interactive Brokers engaged the services of OSL Digital Securities, a Type 1 and 7 Securities and Futures Commission (SFC) licensed digital asset broker, for its crypto offerings in Hong Kong.
“We are delighted to bring our expertise in the digital asset space to the market through these initiatives. The launch of regulated digital asset trading services marks the start of a transformative process in the digital asset market,” said Hugh Madden, CEO of BC Group and OSL. “We expect eagerly the emergence of additional market alliances that will drive growth and increase market share.”
Simplifying cryptocurrency trading
Demand for cryptocurrency trading among retail and institutional traders skyrocketed since crypto prices went through the roof in the mid-2010s. However, the market was largely unregulated, and only crypto exchanges facilitated such trading.
The addition of cryptocurrency products from platforms such as Interactive Brokers has made access to cryptocurrency easier. The addition of cryptocurrencies allows Interactive Brokers’ clients to trade them from a centralized cash management system that allows trading of other asset classes.
Interactive Brokers first launched cryptocurrency trading for its US clients in September 2021 with a partnership with Paxos, a company now facing regulatory issues. The broker’s crypto offering in the US is broader with Bitcoin, Ethereum, Litecoin and Bitcoin Cash and is also available to retail traders.
Interactive Brokers (Nasdaq: IBKR) has expanded its cryptocurrency offerings to the Asian markets as it launched crypto trading services in Hong Kong. The addition of digital assets came with a growing interest among the broker’s clients.
The offers were announced on Tuesday and are limited to just two cryptocurrencies: Bitcoin and Ethereum, the top two by market capitalization. In addition, the US-headquartered broker will allow professional investors in the autonomous jurisdiction to trade the two cryptocurrencies.
To qualify to trade cryptocurrencies on interactive brokers, individual Hong Kong residents must have over HKD 8 million in investable assets, while institutions should have assets of more than HKD 40 million.
“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce cryptocurrency to meet the trading objectives of clients in this important market,” said Interactive Brokers’ Head of APAC, David Friedland. “Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single, unified platform.”
Interactive Brokers actually takes a commission of 0.2 to 0.3 percent of the cryptocurrency trading volume, which will also depend on the monthly volume. However, there will be a minimum charge of $2.25 per order with no additional markups or margins.
Interactive Brokers engaged the services of OSL Digital Securities, a Type 1 and 7 Securities and Futures Commission (SFC) licensed digital asset broker, for its crypto offerings in Hong Kong.
“We are delighted to bring our expertise in the digital asset space to the market through these initiatives. The launch of regulated digital asset trading services marks the start of a transformative process in the digital asset market,” said Hugh Madden, CEO of BC Group and OSL. “We eagerly anticipate the emergence of additional market alliances that will drive growth and increase market share.”
Simplifying cryptocurrency trading
Demand for cryptocurrency trading among retail and institutional traders skyrocketed since crypto prices went through the roof in the mid-2010s. However, the market was largely unregulated, and only crypto exchanges facilitated such trading.
The addition of cryptocurrency products from platforms such as Interactive Brokers has made access to cryptocurrency easier. The addition of cryptocurrencies allows Interactive Brokers’ clients to trade them from a centralized cash management system that allows trading of other asset classes.
Interactive Brokers first launched cryptocurrency trading for its US clients in September 2021 with a partnership with Paxos, a company now facing regulatory issues. The broker’s crypto offering in the US is broader with Bitcoin, Ethereum, Litecoin and Bitcoin Cash and is also available to retail traders.
