- IBKR partnered with OSL to launch crypto trading in Hong Kong.
- Hong Kong is committed to expanding in the crypto space.
- Interactive Brokers shares are currently up over 20% for the year.
Interactive Brokers Group Inc is in the green this morning after revealing plans of launching crypto trading in Hong Kong.
Interactive Brokers partnered with OSL Digital Securities
Residents of Hong Kong with more than $1.0 million in investable assets if they’re individuals, and over $6.0 million in investable assets if they’re institutions, will now be able to trade cryptocurrency on the IBKR platform.
The Nasdaq-listed firm partnered with OSL Digital Securities to extend its crypto trading services to Hong Kong. In the press release, David Friedland – Head of Asia-Pacific at Interactive Brokers said:
Investor demand for digital assets continues to grow in Hong Kong and we’re pleased to introduce cryptocurrency to address the trading objectives of clients in this important market.
Last month, Interactive Brokers reported record profit for its fourth financial quarter. Shares of the global brokerage are up more than 20% for the year at writing.
Hong Kong is committed to expanding in the crypto space
The announcement creates a unified platform for investors to trade cryptocurrency and a multitude of other assets, including stocks, futures, options, ETFs, bonds, mutual funds, and event contracts.
They will no longer have to switch between different platforms and exchanges to overview the full breadth of their investment portfolio.
Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single unified platform.
The crypto news arrives only a month after the Financial Secretary of Hong Kong – Paul Chan said the local government was open to collaborating with crypto and fintech startups this year. In December, Hong Kong passed legislation to license virtual asset service providers as well.
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