Interactive Brokers Launches Crypto Trading for Retail Clients in Hong Kong With Crypto Exchange OSL
Crypto News

Interactive Brokers Launches Crypto Trading for Retail Clients in Hong Kong With Crypto Exchange OSL

1m
2 months ago

Interactive Brokers, a prominent global brokerage firm, has launched cryptocurrency trading services for its retail clientele in Hong Kong.

Interactive Brokers Launches Crypto Trading for Retail Clients in Hong Kong With Crypto Exchange OSL
Interactive Brokers, a prominent global brokerage firm, has launched cryptocurrency trading services for its retail clientele in Hong Kong. The firm has partnered with OSL, a well-known crypto exchange holding a Virtual Asset Service Provider (VASP) license in the region. Through a unified platform, Interactive Brokers' customers can now conveniently engage in digital asset trading.

Hong Kong-based clients of Interactive Brokers can diversify their investment portfolios by holding Bitcoin (BTC) and Ether (ETH) alongside conventional assets like stocks, derivatives, commodities, and forex. Each transaction attracts a commission ranging from 0.20% to 0.30% based on the transaction value.

Recently, Interactive Brokers successfully obtained a license permitting retail virtual asset trading in Hong Kong. Initially, the firm will facilitate trades exclusively in Bitcoin and Ether. Additionally, BC Technology Group, the parent company of OSL exchange, recently disclosed a substantial $90 million equity investment from blockchain firm BGX.

Although Hong Kong was among the first jurisdictions to grant licenses to cryptocurrency exchanges, the progress has been impeded by recent exchange scandals. For instance, the collapse of JPEX resulted in 66 arrests and an estimated loss of 1.6 billion Hong Kong dollars ($205 million). Similarly, on November 25, Hounax, an unauthorized crypto exchange, allegedly defrauded 145 residents of 148 million HKD ($18.9 million) through a Ponzi scheme.

Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article