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Interactive Brokers, one of many largest brokerage companies on the planet, has opened crypto buying and selling for retail shoppers in Hong Kong.
In line with the Nov28 announcement, the service is obtainable together with OSL, one of many first crypto exchanges to obtain a Digital Asset Service Supplier (VASP) in Hong Kong. “Interactive Brokers’ retail buyers in Hong Kong now have quick entry to digital asset buying and selling via a single unified platform powered by OSL,” builders wrote.
Per its web site, Hong Kong shoppers of Interactive Brokers can maintain Bitcoin (BTC) or Ether (ETH) of their private accounts alongside shares, derivatives, commodities, foreign exchange, and different property. Every commerce is charged a fee equal to 0.20% to 0.30% of the transaction worth.
Final week, Cointelegraph reported that Interactive Brokers had obtained a license for retail digital asset buying and selling in Hong Kong. Nonetheless, the license solely grants the agency to dealer trades of Bitcoin and Ethereum for the time being.
On Novembe 14, BC Expertise Group, owned of the OSL change, introduced it had obtained a $90 million fairness funding from blockchain agency BGX. The agency had beforehand thought-about promoting the OSL change for $1 billion Hong Kong {dollars}, or $128 million.
Though Hong Kong was one of many first jurisdictions to subject licenses for cryptocurrency exchanges, momentum has been considerably stifled by a collection of change scandals. In September, JPEX, one of many area’s largest crypto exchanges, collapsed, resulting in 66 arrests and an estimated 1.6 billion Hong Kong {dollars} ($205 million) in losses. On Nov 25, Hounax, one other unlicensed crypto change in Hong Kong, reportedly scammed 145 residents out of 148 million HKD ($18.9 million) via an alleged Ponzi scheme.
Associated: Hong Kong authorities say 145 victims, $18.9M misplaced in Hounax rip-off
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