A New License Approval for Interactive Brokers in Hong Kong
In a recent LinkedIn post, David Friedland, the Managing Director of the Asia Pacific region for Interactive Brokers, announced that the company has received approval for a license in Hong Kong. This license will enable retail clients to trade Bitcoin (BTC) and Ethereum (ETH).
A Surge in Crypto Industry Activity in Hong Kong
This announcement from Interactive Brokers comes at a time when there is a surge in crypto industry activity in Hong Kong. The region has become a hub for crypto-related ventures, attracting numerous companies looking to obtain local licensing.
Back in August, Hashkey became the first crypto exchange in Hong Kong to obtain a specific license allowing them to offer crypto assets to retail investors. Friedland mentions that an official announcement from Interactive Brokers will be made soon.
The Race Continues
Just before the announcement from Interactive Brokers, Victory Securities, a Hong Kong-based securities firm, also revealed that they have received approval from the Hong Kong SFC to provide virtual asset trading and consulting services to retail investors.
This milestone makes Victory Securities the first licensed corporation in Hong Kong to offer these services to retail investors. With two major announcements within 24 hours, it is evident that the race towards virtual asset adoption in Hong Kong is well underway.
Hot Take: A Growing Crypto Market in Hong Kong
The recent license approvals for Interactive Brokers and Victory Securities highlight the growing interest and activity in the crypto market in Hong Kong. These developments provide retail clients with more opportunities to trade Bitcoin and Ethereum, further driving adoption of virtual assets.
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