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Interactive Brokers Now Permitted To Trade Virtual Assets In Hong Kong
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Interactive Brokers Now Permitted To Trade Virtual Assets In Hong Kong

In a post made on Nov. 23 on LinkedIn, David Friedland, the Managing Director of the Asia Pacific region for Interactive Brokers, shares an early announcement of a Hong Kong license approval.

The license is said to allow retail clients to trade Bitcoin (BTC) and Ethereum (ETH).

A Surge In Activity

The recent announcement from Victory Securities coincides with a rush in crypto industry activity in Hong Kong, which has emerged as a focal point for crypto-related endeavors, attracting numerous companies seeking local licensing.

 

David Friedland LinkedIn Post

 

Notably, in August of this year, Hashkey secured the distinction of being the first crypto exchange in Hong Kong to obtain a specific license permitting the offering of crypto assets to retail investors.

Friedland shares that an official announcement from the company should come available soon.

See Also: Whale Moves $10M In Sol To Binance, Raises Sell-Off Concerns In The Crypto Market

The Race Continues

News of Interactive Brokers receiving a license comes just before Nov. 24 from the Hong Kong-based securities firm Victory Securities, which also shared that it received approval from the Hong Kong SFC to provide virtual asset trading and consulting services to retail investors.

According to Victory Security’s executive director Chen Peiquan, this achievement marks a historic milestone, positioning the firm as the inaugural licensed corporation in Hong Kong to be granted permission to extend these services to retail investors.

With two major announcements within the same 24-hour period, it becomes clear to the world the race towards virtual asset adoption in Hong Kong is on.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.