February 20, 2023
By Anjali Kochhar
Automated global electronic broker Interactive Brokers announced its launch of cryptocurrency trading in Hong Kong, enabling Professional Investor clients of Interactive Brokers Hong Kong to trade Bitcoin (BTC) and Ethereum (ETH).
According to the statement, eligible clients including individuals with over HKD 8 million in investable assets or institutions with assets greater than HKD 40 million who are residents of Hong Kong, can now trade cryptocurrency alongside other asset classes available on the Interactive Brokers platform creating a unified client experience.
“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce cryptocurrency to address the trading objectives of clients in this important market,” said David Friedland, Head of APAC at IBKR in an official statement.
“Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single unified platform.”
Cryptocurrency trading through Interactive Brokers Hong Kong is powered by OSL Digital Securities and has low commissions of just 0.20% – 0.30% of trade value, depending on monthly volume, with a USD 2.25 minimum per order, with no added spreads or mark-ups.
The launch of these services comes at a pivotal moment in the evolution of the regulated digital asset landscape in Hong Kong. Investors are showing a growing interest in digital assets and this collaboration is poised to make a significant impact on the Hong Kong digital asset market.
Trading cryptocurrency and other asset classes previously required investors to use multiple trading platforms from different brokers and exchanges. Cryptocurrency trading on the Interactive Broker’s platform, however, allows investors to transact and view balances through a single platform that provides a unified view.
Interactive Brokers’ clients benefit from the convenience of centralized cash management and can trade Bitcoin and Ethereum plus stocks, options, futures, bonds, event contracts, mutual funds, and ETFs from a single screen.
“We are excited 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 inception of a transformative process in the digital asset market,” said Hugh Madden, CEO at BC Group and OSL.
“We eagerly anticipate the emergence of additional market alliances that will drive growth and increase market share.”
Interactive Brokers launched cryptocurrency trading in Hong Kong in collaboration with OSL Digital Securities, the world’s first Type 1 and 7 Securities and Futures Commission (SFC)-licensed digital asset brokerage and trading platform for professional investors.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.