Interactive Brokers Hong Kong Enters Retail Crypto Trading Arena

by Jared Kirui
  • The brokerage giant has obtained a crypto trading license in Hong Kong.
  • Interactive Brokers joined Victory Securities in securing the SFC's approval.
Hong Kong
Hong Kong

Interactive Brokers Hong Kong has been licensed to facilitate retail crypto trading in Hong Kong. This move was confirmed on LinkedIn by David Friedland, the firm's Managing Director for Asia Pacific. It positions the brokerage firm as a key player in the region's evolving crypto landscape.

Hong Kong has witnessed a surge in interest and activity within the crypto sector, with major companies vying to acquire local licensing. Notably, this development follows similar milestones achieved by other entities, such as Hashkey and the Swiss crypto bank SEBA.

More Firms Obtain Crypto Regulatory Approval in Hong Kong

Recently, the Hong Kong Securities and Futures Commission (SFC) revisited its crypto policies, restricting certain offerings to professional investors and emphasizing the importance of assessing clients' knowledge before handling their transactions. However, amid the stringent regulatory measures, the sector has faced challenges such as the scandal involving JPEX that rocked Hong Kong's digital asset market.

Separately, Victory Securities, a prominent investment firm in the country, has secured similar approval from the SFC to offer cryptocurrency services targeting retail clients. Victory Securities' recognition in Hong Kong positions the firm alongside Interactive Brokers in the region's retail crypto space.

Earlier this month, Interactive Brokers introduced a promotion for investors in the UK. The firm presented a commission credit of £55 for users opening stocks and shares investment savings accounts (ISAs) through its platform. The company said this incentive gives users access to global securities and tax benefits associated with ISAs.

Interactive Brokers' European Expansion and Service Enhancement

Meanwhile, recent financial reports from Interactive Brokers highlighted impressive growth. In the third quarter, the company reported a surge of 45% year-over-year in net revenue, reaching $1.145 billion. Interactive Brokers is focusing on expansion in Europe by consolidating its operations into Ireland, a move aimed at optimizing efficiency while catering to a growing client base.

According to a statement by the firm, Budapest's branch will continue serving clients across Central and Eastern Europe, a step that signifies the company's response to substantial client growth post-Brexit . Besides that, the brokerage firm extended trading hours for US equities and crypto services in partnership with Zero Hash in September.

Interactive Brokers Hong Kong has been licensed to facilitate retail crypto trading in Hong Kong. This move was confirmed on LinkedIn by David Friedland, the firm's Managing Director for Asia Pacific. It positions the brokerage firm as a key player in the region's evolving crypto landscape.

Hong Kong has witnessed a surge in interest and activity within the crypto sector, with major companies vying to acquire local licensing. Notably, this development follows similar milestones achieved by other entities, such as Hashkey and the Swiss crypto bank SEBA.

More Firms Obtain Crypto Regulatory Approval in Hong Kong

Recently, the Hong Kong Securities and Futures Commission (SFC) revisited its crypto policies, restricting certain offerings to professional investors and emphasizing the importance of assessing clients' knowledge before handling their transactions. However, amid the stringent regulatory measures, the sector has faced challenges such as the scandal involving JPEX that rocked Hong Kong's digital asset market.

Separately, Victory Securities, a prominent investment firm in the country, has secured similar approval from the SFC to offer cryptocurrency services targeting retail clients. Victory Securities' recognition in Hong Kong positions the firm alongside Interactive Brokers in the region's retail crypto space.

Earlier this month, Interactive Brokers introduced a promotion for investors in the UK. The firm presented a commission credit of £55 for users opening stocks and shares investment savings accounts (ISAs) through its platform. The company said this incentive gives users access to global securities and tax benefits associated with ISAs.

Interactive Brokers' European Expansion and Service Enhancement

Meanwhile, recent financial reports from Interactive Brokers highlighted impressive growth. In the third quarter, the company reported a surge of 45% year-over-year in net revenue, reaching $1.145 billion. Interactive Brokers is focusing on expansion in Europe by consolidating its operations into Ireland, a move aimed at optimizing efficiency while catering to a growing client base.

According to a statement by the firm, Budapest's branch will continue serving clients across Central and Eastern Europe, a step that signifies the company's response to substantial client growth post-Brexit . Besides that, the brokerage firm extended trading hours for US equities and crypto services in partnership with Zero Hash in September.

About the Author: Jared Kirui
Jared Kirui
  • 798 Articles
  • 10 Followers
About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 798 Articles
  • 10 Followers

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