Interactive Brokers Enables Cryptocurrency Trading for Retail Investors in Hong Kong

Interactive Brokers, a major brokerage firm, has teamed up with the licensed exchange OSL to grant retail investors in Hong Kong access to cryptocurrency trading. This collaboration enables Hong Kong-based Interactive Brokers clients to engage in digital asset trading through a unified platform managed by the exchange. Now, alongside stocks, derivatives, commodities, and currencies, the firm's Hong Kong customers can hold bitcoins in their accounts. A transaction fee ranging from 0.20% to 0.30% applies to each trade, varying according to the transaction amount.

Hugh Madden, CEO of OSL and BC Group, remarked, "Partnering with Interactive Brokers demonstrates our commitment to leading the regulated digital asset market. Offering cryptocurrency trading to retail investors aligns with our strategy to promote this asset class among a wider audience."

Interactive Brokers recently acquired a license for retail trading of virtual assets in Hong Kong. This license permits the company to conduct transactions solely with bitcoins and ethers. In mid-November, BC Technology Group, the company behind the OSL exchange, announced securing $90 million in funding from the blockchain firm BGX.

Hong Kong stands among the pioneering jurisdictions issuing licenses for cryptocurrency exchanges. In August, the Securities and Futures Commission of Hong Kong (SFC) granted OSL the license to trade bitcoins and ethers under the new regime targeting retail clients. Early November, Hong Kong authorities affirmed that the JPEX cryptocurrency exchange scandal would not impact the government's plans for regulating cryptocurrencies in the administrative region.