Interactive Brokers Rolls Out BTC, ETH Trading to Professional Investors in Hong Kong
Eligible clients include individuals with over 8 million Hong Kong dollars in investable assets and institutions with over 40 million Hong Kong dollars.
Interactive Brokers (IBKR) has begun offering cryptocurrency trading to professional investors in Hong Kong in partnership with crypto exchange OSL Digital Securities.
Eligible clients include individuals with over 8 million Hong Kong dollars (US$1 million) in investable assets and institutions with over 40 million Hong Kong dollars ($5 million).
Interactive Brokers and OSL's aim is to allow clients to invest in bitcoin (BTC) and ether (ETH) via a single platform alongside stock, options, futures, bonds and so on.
The two firms teamed up to introduce crypto trading in Hong Kong in June, citing the city's high concentration of institutional and professional investors.
Mixed signals have come out of Hong Kong in recent months regarding its future regulatory environment for crypto. Its Financial Services and Treasury Bureau said in October that it was exploring allowing retail customers to trade crypto or approving a crypto exchange-traded fund (ETF).
However, in November, Julia Leung (then the deputy CEO of the Securities and Futures Commission and now the CEO) called for tougher rules on crypto firms, highlighting how the FTX exchange's collapse demonstrated the threat that digital assets could pose due to links with traditional financial services.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.