- OSL and IBKR joined forces to open crypto trading in Hong Kong.
- Hong Kong is determined to expand in the crypto space.
- Interactive Brokers shares have risen more than 20% in the past year.
Interactive Brokers Group Inc. is green after announcing plans to launch cryptocurrency trading in Hong Kong.
Interactive Brokers has 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.
OSL Digital Securities was partnered by the Nasdaq-listed firm to offer crypto trading services in Hong Kong. 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.
Interactive Brokers last month reported It posted record profits for its fourth quarter. The shares of the global brokerage have increased by more than 20% in the last year.
Hong Kong is committed in expanding the crypto space
This announcement will create a unified platform that allows investors to trade cryptocurrency as well as a variety of assets, such futures, options and stocks.
They won’t need to switch between multiple platforms and exchanges in order to see the entire range of their investment portfolio.
Our low fees and ability to trade crypto along with many other global products will be a benefit to all clients.
The crypto news arrives only a month after the Financial Secretary of Hong Kong – Paul Chan said This year, the local government was openly interested in collaborating with cryptocurrency and fintech startups. Hong Kong passed legislation in December that licensed virtual asset service providers.
