Securities International, the largest online brokerage in Hong Kong, has launched retail cryptocurrency trading services, enabling residents to buy and sell Bitcoin and Ether using Hong Kong or US Dollars. The move aims to attract investors with the appeal of major stocks such as Alibaba Group Holding and Nvidia, alongside cryptocurrency investments.
The service is aimed at Hong Kong residents and is facilitated through a partnership with HashKey Exchange, one of the city’s two licensed cryptocurrency exchanges. Securities International is offering enticing incentives to encourage new account openings and deposits.
The new crypto trading services started on August 1, accompanied by a special promotion that includes waived commission fees. Investors who open accounts in August and deposit HK$10,000 (around $1,280) for 60 days can choose between receiving HK$600 worth of Bitcoin, a HK$400 supermarket voucher, or an Alibaba share. A larger deposit of $80,000 offers a choice of HK$1,000 in Bitcoin or a share of Nvidia.
The brokerage has integrated cryptocurrency trading into its main platform, providing a seamless experience for users. Additionally, Securities International is seeking a full cryptocurrency exchange license for its new platform, PantherTrade. This platform is currently one of 11 in Hong Kong that are “deemed to be licensed,” allowing it to operate while awaiting formal approval from the Securities and Futures Commission (SFC).
Despite Hong Kong’s ambitions to become a leading crypto hub, the city has faced challenges, including the departure of major global platforms and low trading volumes for crypto ETFs on the local stock exchange. The regulatory landscape has been tightening in response to incidents such as a recent fraud case involving counterfeit banknotes and a significant crypto promoter facing charges of fraud and theft. These events have spurred Hong Kong authorities to enhance their capabilities in monitoring and regulating digital asset transactions.
The launch of retail crypto trading by Securities International signals a significant development in Hong Kong’s financial landscape, offering greater accessibility to digital assets for local investors. The collaboration with HashKey Exchange and the pursuit of full licensing highlight the city’s commitment to establishing a robust regulatory framework to support a secure and transparent trading environment. This initiative could play a crucial role in reinforcing Hong Kong’s status as a growing center for cryptocurrency and digital finance.
