Tiger Brokers Launches Cryptocurrency Trading Services in Hong Kong

On May 6, 2024, Tiger Brokers, a NASDAQ-listed brokerage firm, launched its new cryptocurrency trading services in Hong Kong for professional investors, signaling a significant expansion in the region's digital asset market.

Learn about the impact of this development and future plans for individual investors.

Tiger Brokers Begins Offering Cryptocurrency Trading Services

On May 6, 2024, Tiger Brokers, a broker firm listed on NASDAQ, officially launched its cryptocurrency trading services targeted at professional investors in Hong Kong.

Founded in 2014, Tiger Brokers is an online-focused brokerage company that had been planning to enter the cryptocurrency market since 2021.

The announcement confirmed that Tiger Brokers has officially started offering cryptocurrency trading services, allowing professional investors in Hong Kong to trade 18 types of digital assets through the company's Tiger Trade app.

Trading 18 Cryptocurrencies Including BTC and ETH

The Tiger Trade platform now allows trading of "stocks, options, futures, U.S. bonds, funds, and other global assets," including 18 types of cryptocurrencies like BTC and ETH.

The official announcement did not specify the other cryptocurrencies available for trading besides BTC and ETH.

The company highlighted the advantage of this service, stating that "it eliminates the need for managing multiple accounts across various brokers and platforms, making global asset allocation simpler and more convenient."

Additionally, cryptocurrency trading is available 24/7, and the company is also considering offering services for depositing and withdrawing cryptocurrencies.

Plans to Extend Services to Individual Investors

Currently, the cryptocurrency trading service is only available to professional investors in Hong Kong as of the time of writing. However, if regulatory approval is obtained, services for individual investors will also be initiated.

Residents of Hong Kong whose investment portfolios exceed 8 million Hong Kong dollars, or corporate clients with assets over 40 million Hong Kong dollars, are eligible to register as professional investors.

Tiger Brokers also offers "physical cryptocurrency trading" and is providing Bitcoin and Ethereum physical ETFs listed in the U.S. and Hong Kong to investors in the region.

The commencement of trading Bitcoin and Ethereum physical ETFs in Hong Kong is expected to further develop the cryptocurrency market.

The recent launch of cryptocurrency trading services by Tiger Brokers is anticipated to further energize Hong Kong's cryptocurrency market.