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Tiger Brokers Obtains License to Expand Crypto Services to Retail Traders in Hong Kong

Tiger Brokers (HK) has secured a license from the Hong
Kong regulator to offer virtual asset trading services to retail clients. This
approval allows Hong Kong's retail investors to trade Bitcoin (BTC) and
Ethereum (ETH) through Tiger Trade, the company's flagship platform. This move
happened after Tiger Brokers initially introduced virtual asset trading
services exclusively for professional investors.

Growing Interest in Crypto Assets

John Fei Zeng, the Chief Financial Officer and
Director of Tiger Brokers mentioned: "We have seen a growing interest among
investors in virtual asset investments. Many investors not only hold virtual
assets but also stocks and other assets in their portfolios. Tiger Brokers aims
to provide a secure, convenient, and cost-effective platform for all Hong Kong
investors, allowing them to trade both traditional financial securities and
virtual assets within a single app."

"This eliminates the need to open multiple
accounts on different platforms and enhances capital efficiency. For example,
when a major event occurs in the stock market, investors can sell their virtual
assets and immediately buy securities at Tiger Trade to quickly seize the
opportunity."

Tiger Trade enables users to manage a variety of
global assets, including stocks, options, futures, US Treasury bonds, and
funds, alongside virtual assets. The company's journey toward expanding its
virtual asset services to retail investors began with the SFC's upgrade of its
Type 1 license conditions in January.

Regulatory Milestones

The firm launched virtual asset trading services for
Hong Kong investors in early May, marking its entry into the rapidly growing
virtual asset sector. Tiger Brokers has now expanded its services to include
retail investors as it commits to the rapidly expanding digital asset market.

According to the company, the commission rate for
retail investors in the new offering is 0.2% of the transaction amount, with no custody fees. The new offering promises instant settlement for virtual asset trades and 24/7 trading availability.



This article was written by Jared Kirui at www.financemagnates.com.