Investing in Web 3.0 Stocks with Interactive Brokers in Hong Kong

Interactive Brokers Offers Crypto Trading for Retail Clients in Hong Kong

Interactive Brokers, one of the largest brokerage firms in the world, has enabled retail clients in Hong Kong to access crypto trading. The service is provided in conjunction with OSL, a Virtual Asset Service Provider (VASP) in Hong Kong. Through the platform, Interactive Brokers’ customers are able to hold Bitcoin (BTC) or Ether (ETH) in their accounts, along with stocks, derivatives, commodities, forex and other assets. Each trade is charged a commission of 0.20% to 0.30% of the transaction value.

The launch of crypto trading for retail clients in Hong Kong follows the firm’s receipt of a license for retail virtual asset trading in the city. Currently, the license only permits the firm to broker trades in Bitcoin and Ether.

On Nov. 14, BC Technology Group, owned by the OSL exchange, announced it had received a $90-million equity investment from blockchain firm BGX. The firm had previously considered selling the OSL exchange for 1 billion Hong Kong dollars, or $128 million. Although Hong Kong was one of the first jurisdictions to issue licenses for cryptocurrency exchanges, momentum has been somewhat stifled by a series of exchange scandals. In September, JPEX, one of the region’s largest crypto exchanges, collapsed, leading to 66 arrests and an estimated 1.6 billion Hong Kong dollars ($205 million) in losses. On Nov. 25, Hounax, another unlicensed crypto exchange in Hong Kong, reportedly scammed 145 residents out of 148 million HKD ($18.9 million) through an alleged Ponzi scheme.

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