Interactive Brokers Partners with OSL to Offer Crypto Trading in Hong Kong
Interactive Brokers, an international broker, has teamed up with OSL, Hong Kong’s public cryptocurrency company, to provide retail customers with crypto trading options. This move makes Interactive Brokers the first securities broker in Hong Kong to gain approval for retail customers to trade cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The partnership allows Interactive Brokers’ retail investors in Hong Kong to access crypto trading through a unified platform powered by OSL.
“This expansion with Interactive Brokers is a testament to our enduring commitment to lead the regulated evolution of the digital asset market.” – OSL CEO Hugh Madden
Meeting the Demand for Cryptocurrency Exposure
According to David Friedland, Head of APAC for Interactive Brokers, this expansion aligns with the firm’s core mission as demand for cryptocurrency exposure continues to rise. Interactive Brokers will charge users in Hong Kong a fee of 0.20% – 0.30% of the trade value, depending on monthly volume, with a minimum of $2.25 per order.
Victory Securities Also Receives Approval
In addition to Interactive Brokers, Victory Securities has also received approval from the Securities & Futures Commission of Hong Kong to offer virtual asset trading and consulting services to retail investors. Chen Peiquan, executive director of Victory Securities, sees this milestone as positioning the firm as the first licensed corporation in Hong Kong allowed to extend these services to retail investors.
Hot Take: Expanding Access and Adoption of Cryptocurrencies in Hong Kong
Hong Kong is making significant progress in expanding access and adoption of cryptocurrencies. With Interactive Brokers becoming the first securities broker approved for retail customers to trade crypto, and Victory Securities also receiving approval, more options are available for investors in Hong Kong. This move not only meets the rising demand for cryptocurrency exposure but also showcases the commitment of companies like Interactive Brokers and OSL to lead the regulated evolution of the digital asset market. As cryptocurrencies continue to gain popularity, Hong Kong is positioning itself as a hub for crypto trading and investment.
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