In January, the Financial Secretary for Hong Kong, Paul Chan, expressed the government's willingness to collaborate with crypto and fintech businesses in 2023
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On February 14, Interactive Brokers, a brokerage company based in the United States, revealed the commencement of their crypto trading services in Hong Kong, specifically designed for institutional clients.
This service was established in collaboration with OSL Digital Securities, which is a licensed digital asset brokerage and trading platform meant for professional investors under the Securities and Futures Commission.
Residents of Hong Kong who possess investable assets exceeding 8 million Hong Kong dollars (equivalent to $1 million) or institutions with assets greater than HK$40 million (which equals $6 million) are now eligible to trade crypto, among other asset classes, using the Interactive Brokers platform.
Before this announcement, investors had to employ multiple trading platforms from different brokers and exchanges in order to engage in crypto and other asset-class trading. However, by using the Interactive Broker platform, investors can now conduct crypto trading and monitor their balances in one unified view, which eradicates the need for multiple platforms.
Interactive Brokers' clients have access to a centralised cash management system which enables them to trade an array of assets, including but not limited to stocks, options, futures, bonds, event contracts, mutual funds, and exchange-traded funds, along with Bitcoin and Ether, all from a single screen.