As an experienced financial analyst, I view Tiger Brokers’ entry into the crypto trading market through its Hong Kong subsidiary as a strategic move that caters to the growing demand for digital assets among investors in the region. With the introduction of Tiger Trade, users can now trade and manage both traditional securities and virtual assets on a single platform, which is a convenience not previously available in the area.
Tiger Brokers, a prominent fintech company in China, has introduced crypto trading for its professional investors via its Hong Kong branch. In a recent statement, Tiger Brokers (HK) presented Tiger Trade, a unified platform where users can buy and manage traditional stocks as well as virtual currencies such as Bitcoin (BTC) and Ethereum (ETH), plus 16 other digital assets.
Tiger Brokers Unveils All-in-One Trading Platform
As a researcher studying this platform, I can share that it offers a convenient solution for users looking to engage in diverse financial markets. With this tool, you can execute transactions on traditional stocks, options, futures, US Treasury bonds, funds, and an array of international assets, all through a unified interface.
In Hong Kong, we are proud to unveil our premier investment application, designed specifically for users seeking easy access to digital assets. No longer will you need to manage multiple brokerage accounts to diversify your portfolio. Our flagship app simplifies the process, providing a seamless and convenient experience for all your crypto investing needs.
“Despite being the pioneer in providing such services in the region, the company is initially limiting access to these offerings only for professional investors based in Hong Kong, in order to adhere to regulatory requirements and safeguard investor interests.”
According to the announcement, individuals whose investment portfolios total over NT$8 million and corporations with assets above NT$40 million are qualified to use these services once they’ve finished necessary investor courses and signed relevant agreements.
The business intends to extend its offerings to individual investors in the marketplace eventually. Yet, this decision hinges on obtaining regulatory consent.
Tiger Brokers Waivers Custody Fee
As a researcher examining the investment opportunities with Tiger Trade, I’ve discovered that this platform enables eligible users to acquire Bitcoin (BTC), Ethereum (ETH), as well as conventional stocks, for a minimal fee set at an affordable 0.2%.
Furthermore, Tiger announced that they have done away with custody fees for institutional investors through their new platform.
Zeng Qingfei, the CFO of Tiger International, expressed his thoughts on the debut of Tiger Trade. He highlighted that this new product marks Tiger International’s intentional initiative to provide investors with a diverse array of investment choices. In his opinion, this action is geared towards assisting investors in skillfully maneuvering through Hong Kong’s volatile market scenarios.
Tiger intends to broaden its range of products in the future. This forward-thinking financial institution, regulated by Hong Kong’s Securities and Futures Commission (SFC), is additionally investigating the feasibility of launching virtual asset deposit and withdrawal services as part of this expansion.
Hong Kong Rolls Out Crypto ETFs
In recent developments, Hong Kong has launched its new crypto trading platform just a few days following the market debut of Bitcoin and Ethereum spot ETFs.
As a financial analyst, I’d rephrase it as follows: Last month, I was thrilled to learn that our country’s financial regulatory body gave the green light for the launch of the first crypto-related investment funds in Hong Kong. However, on their inaugural trading day, these products failed to meet my expectations, only recording a modest $11 million in trades.
Experts predicted that crypto ETFs would bring in approximately $100 million on their debut day. Of this amount, roughly $8.5 million can be attributed to Bitcoin ETFs, while the remaining funds were generated by Ether ETFs.
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2024-05-06 15:09