HSBC Hong Kong Branch Opens Crypto ETF Trading to Clients

HSBC min
HSBC min

HSBC subsidiary in Hong Kong announced the possibility for its clients to trade ETFs for bitcoin and Ethereum, which received a listing on the local stock exchange.

CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF and Samsung Bitcoin Futures Active ETF are available to clients. The instruments track the dynamics of futures exchange-traded funds traded on the CME.

HSBC Hong Kong was the first major institution to offer this service.

Customers can get it through mobile and online banking applications. For investments, it is necessary to familiarize yourself with educational materials and information about risks in the educational center.

In October 2022, the local Bureau of Financial Services and Treasury released a statement to ease restrictions on cryptocurrencies and willingness to engage with virtual asset service providers.

In January 2023, Hong Kong Financial Secretary Paul Chan announced the jurisdiction’s desire to accept companies from the industry from around the world.

In April, the High Court of the Special Administrative Region recognized digital assets as property. In the same month, local authorities called on banks to serve regulated cryptocurrency platforms.

Effective June 1, 2023, the SFC rules set, among other things, the secure storage of assets, their segregation, the prevention of conflicts of interest, and cybersecurity standards.

Recall that in the spring, the media reported that Hong Kong banks, including a division of the Chinese state-owned Bank of Communications, began to serve crypto companies.

Found a mistake in the text? Select it and press CTRL+ENTER

ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!


Leave a Reply