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 Swiss crypto bank, SEBA.
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 transactions. However, amid the stringent regulatory
measures, the sector has faced challenges such as the scandal involving JPEX that rocked the digital asset market.
Separately, Victory Securities, a prominent Hong
Kong investment firm, 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 retail crypto space.
Early 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. This incentive gives users access to global securities and tax benefits associated
with ISAs, the company said.
Interactive Brokers’ European Expansion and
Service Enhancement
Meanwhile, recent financial reports from Interactive
Brokers highlighted impressive growth. In the third quarter, the company reported surge of 45% year-over-year in net
revenue, reaching $1.145 billion. Interactive Brokers is focusing on
expanding its European operations by consolidating its operations into Ireland as 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 move 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 Swiss crypto bank, SEBA.
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 transactions. However, amid the stringent regulatory
measures, the sector has faced challenges such as the scandal involving JPEX that rocked the digital asset market.
Separately, Victory Securities, a prominent Hong
Kong investment firm, 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 retail crypto space.
Early 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. This incentive gives users access to global securities and tax benefits associated
with ISAs, the company said.
Interactive Brokers’ European Expansion and
Service Enhancement
Meanwhile, recent financial reports from Interactive
Brokers highlighted impressive growth. In the third quarter, the company reported surge of 45% year-over-year in net
revenue, reaching $1.145 billion. Interactive Brokers is focusing on
expanding its European operations by consolidating its operations into Ireland as 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 move 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.
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- Source: https://www.financemagnates.com//cryptocurrency/interactive-brokers-hong-kong-enters-retail-crypto-trading-arena/
