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

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

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One of the largest brokerage firms in the world, Interactive Brokers, launched crypto trading for retail customers in Hong Kong. OSL powers the service. 

According to an announcement by OSL, Interactive Brokers now allows crypto trading for retail clients in Hong Kong. Interactive Brokers offers this newly launched service in partnership with OSL. OSL is one of the first crypto exchanges to receive Virtual Asset Service Provider (VASP) registration in Hong Kong. 

Interactive Brokers Open Retail Trading Powered by OSL

In its announcement, OSL said:

“In a significant development for the local market, Interactive Brokers’ retail investors in Hong Kong now have immediate access to digital asset trading through a single unified platform powered by OSL.” 

A press announcement by Interactive Brokers provided more detail regarding the new service:

“Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced its launch of cryptocurrency trading in Hong Kong, enabling Professional Investor clients of Interactive Brokers Hong Kong to trade Bitcoin (BTC) and Ethereum (ETH). Eligible clients including individuals with over HKD 8 million in investable assets or institutions with assets greater than HKD 40 million who are residents of Hong Kong, can now trade cryptocurrency alongside other asset classes available on the Interactive Brokers platform creating a unified client experience.”

According to Interactive Brokers, its Hong Kong clients may hold Bitcoin (BTC) and Ether (ETH) in their personal accounts and other assets, including stocks, commodities, and derivatives. Trade commission equals 0.20% to 0.30% of the value of a transaction.

Interactive Brokers explained:

“Cryptocurrency trading through Interactive Brokers Hong Kong is powered by OSL Digital Securities and has low commissions of just 0.20% - 0.30% of trade value, depending on monthly volume, with a USD 2.25 minimum per order, with no added spreads or markups.” 

David Friedland, MD, Asia Pacific at Interactive Brokers, announced last week that Interactive is now licensed in Hong Kong to allow the trading of virtual currencies – currently limited to BTC and ETH. 

Significant Moment for the Regulated Digital Asset Landscape

Hong Kong has recently drawn a lot of renewed interest from crypto companies as the city works to create a safe and regulated environment for the crypto industry. The move by Interactive Brokers and OSL marks a significant step in Hong Kong’s growth to become a digital asset hub. 

David Friedland commented:

“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to introduce cryptocurrency to address the trading objectives of clients in this important market.

Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single unified platform.” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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