In a press release, an automated worldwide electronic broker, Interactive Brokers, rolled out a virtual crypto assets exchange in Hong Kong earlier this week; expert investors mentioned that the interactive Brokers platform could exchange ETH and BTC.

According to the Hong Kong capital market regulations, investors with at least HKD eight million and organizations with a minimum of HKD forty million in hidden assets are valid for expert investor status; however, all entities have to be incorporated or residents of Hong Kong.

Collective Trading Experience

The company announced, Consolidation of Ethereum and Bitcoin exchange on the interactive Brokers platform will enable investors to have a collective client experience where they can exchange crypto assets alongside many other universal products from a single collective platform.

Head of APAC Interactive Brokers, David Friedland, reported that investor demand for crypto assets continues to grow in the territory around the globe. As a result, there were pleased to launch virtual digital assets to conform to the trading targets of investors in this valuable market.

Focusing on the 0.2 to 0.3 percent of trade price as commission, digital asset exchange at interactive Brokers Hong Kong could mean to be cheaper, the firm ascertained in its public relation, claiming that the roll-out of these services arrives at a moment when a regulated crypto asset market is growing in Hong Kong.

The company provides centralized cash management to its investors, who can exchange Ethereum and Bitcoin as well as options, stocks, mutual funds, ETFs, and event contracts from the same screen. These services are supported by OSL Digital Securities, a crypto asset trading and exchange platform for professional individuals authorized by the Securities and Futures Commission.

Hong Kong Headed Toward Regulatory Clarity

The Securities and Features Commission in Hong Kong is purportedly preparing a list of advanced whitelisted virtual digital assets for retail or non-expert investors.

In addition, through a change made by the end of the previous year, the administration in Hong Kong brought the virtual crypto asset industry under the purview of the counter-terrorist and anti-money laundering amendment Bill, making it compulsory for virtual digital asset exchanges to acquire permits before commencing operations.

DBS Bank to Enroll for Crypto License

Southeast Asia’s Bank, DBS, has declared its strategy to extend its services in Hong Kong. According to the Straits Times report earlier this week, the bank is strategizing to enroll for a permit to provide virtual digital asset exchange services to Hong Kong investors. The DBS Bank is listed and headquartered in Singapore and is also the largest bank in Southeast Asia, with existence in eighteen markets.

At a briefing earlier this week, the chief executive officer of DBS Bank, Sebastian Paredes, announced that they were strategizing to enroll for a permit in Hong Kong to start distributing virtual crypto assets to Hong Kong investors.

The Banks administration announced that once the guidelines around digital assets in Hong Kong are transparent and the institution understands the system. The bank will be among the lenders involved. While DBS acknowledges the threats affiliated with crypto assets, the institution is working per Hong Kong’s latest policy change.

The country is currently looking to attract crypto businesses. Earlier this year, Paul Chan, the Financial Secretary, declared the city’s relentless efforts to become a crypto/digital hub; the Hong Kong administration is planning to grant better access to retail customers to venture into crypto exchange-traded tokens and other digital assets.