Interactive Brokers and OSL Partner to Open Retail Crypto Trading in Hong Kong

Considered one of many largest brokerage companies on the earth, Interactive Brokers, launched crypto shopping for and promoting for retail prospects in Hong Kong. OSL powers the service. 

Based mostly on an announcement by OSL, Interactive Brokers now permits crypto shopping for and promoting for retail consumers in Hong Kong. Interactive Brokers affords this newly launched service in partnership with OSL. OSL is probably going one of many first crypto exchanges to acquire Digital Asset Service Provider (VASP) registration in Hong Kong. 

Interactive Brokers Open Retail Shopping for and promoting Powered by OSL

In its announcement, OSL said:

“In an enormous progress for the native market, Interactive Brokers’ retail merchants in Hong Kong now have instantaneous entry to digital asset shopping for and promoting by means of a single unified platform powered by OSL.” 

A press announcement by Interactive Brokers provided additional factor referring to the model new service:

“Interactive Brokers (Nasdaq: IBKR), an computerized world digital supplier, at current launched its launch of cryptocurrency shopping for and promoting in Hong Kong, enabling Expert Investor consumers of Interactive Brokers Hong Kong to commerce Bitcoin (BTC) and Ethereum (ETH). Eligible consumers along with folks with over HKD 8 million in investable belongings or institutions with belongings bigger than HKD 40 million who’re residents of Hong Kong, can now commerce cryptocurrency alongside totally different asset classes obtainable on the Interactive Brokers platform making a unified shopper experience.”

Based mostly on Interactive Brokers, its Hong Kong consumers might preserve Bitcoin (BTC) and Ether (ETH) of their non-public accounts and totally different belongings, along with shares, commodities, and derivatives. Commerce payment equals 0.20% to 0.30% of the price of a transaction.

Interactive Brokers outlined:

“Cryptocurrency shopping for and promoting by means of Interactive Brokers Hong Kong is powered by OSL Digital Securities and has low commissions of merely 0.20% – 0.30% of commerce price, counting on month-to-month amount, with a USD 2.25 minimal per order, with no added spreads or markups.” 

David Friedland, MD, Asia Pacific at Interactive Brokers, announced closing week that Interactive is now licensed in Hong Kong to allow the shopping for and promoting of digital currencies – at current restricted to BTC and ETH. 

Important Second for the Regulated Digital Asset Panorama

Hong Kong has currently drawn various renewed curiosity from crypto companies as city works to create a protected and managed ambiance for the crypto commerce. The switch by Interactive Brokers and OSL marks an enormous step in Hong Kong’s growth to develop to be a digital asset hub. 

David Friedland commented:

“Investor demand for digital belongings continues to develop in Hong Kong and world large, and we’re joyful to introduce cryptocurrency to deal with the shopping for and promoting objectives of consumers on this important market.

Eligible consumers will revenue from our low costs and the flexibleness to commerce crypto alongside many various world merchandise from a single unified platform.” 

Disclaimer: This textual content is provided for informational capabilities solely. It isn’t provided or supposed to be used as licensed, tax, funding, financial, or totally different advice.

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