On May 2024, 5, according to Yahoo Finance, Tiger Brokers (Hong Kong) officially launched virtual asset trading services. Professional investors in Hong Kong can trade 6 virtual assets, as well as stocks, options, futures, U.S. Treasury bonds, funds and other global assets in one stop through Tiger Brokers' investment platform Tiger Trade, without having to open and manage different accounts at different brokerages and platforms.
With the successful listing of Bitcoin and Ethereum spot ETFs in Hong Kong, the Hong Kong virtual asset market has entered a new stage. Institutional and retail investors from traditional finance already have a variety of entry options; if the market wants to continue to move forward, it needs to start working on innovation and distribution promotion. In this process, the importance of brokerage firms in the role of "bridge" connecting investment and Web3 will increase day by day. In the face of "old money", brokerage firms' expertise and experience in risk management will be an important barrier to protect the safety of investors' assets and an important support for the continued expansion and deepening of the market.
As a traditional securities firm, Tiger Securities has also seized this opportunity and actively launched its virtual asset market layout. In this article, Bailu Living Room will help readers understand Tiger Securities' virtual asset layout and find more opportunities.
Tiger Securities
Tiger Brokers was founded in 2014 and is headquartered in Beijing, China. It focuses on improving the trading efficiency of individual investors. The company provides trading services for US stocks, Hong Kong stocks, and British stocks, and has obtained brokerage licenses or permits in the United States, New Zealand, and Australia. Tiger Brokers (Hong Kong) is the branch of Tiger Brokers in Hong Kong and holds Category 1, 2, 4, 5, and 9 licenses issued by the Hong Kong Securities Regulatory Commission.
In 2023, Tiger Securities' total revenue was $2.73 million, up 2022% from 21. By the end of 2023, Tiger Securities' total customer assets reached $306 billion, up more than 100% year-on-year. In the third quarter of 2023, Tiger Securities added 2.9 new global account opening customers, bringing the total to 215 million. It also added 2.5 new funded customers, bringing the total to 87. Tiger Securities' business performed well in 2023, and the company's global expansion and product innovation also contributed to its growth.
Completed the upgrade of license plate 1
Approved by Hong Kong Securities Regulatory Commission Type 9 License
On January 2024, 1, Tiger Brokers announced that it had obtained the Hong Kong Securities Regulatory Commission's upgrade of its Type 25 license conditions, allowing professional investors to trade virtual assets through Tiger Brokers on the Securities Regulatory Commission's licensed platform. In the future, Tiger Brokers plans to open virtual asset trading to retail investors on the premise of meeting regulatory requirements.
In this regard, Zeng Qingfei, Chief Financial Officer of Tiger International, said: "This license upgrade is an important step for Tiger Securities. We are very happy to introduce virtual asset trading in the future and further meet the trading needs of customers in this important field."
On March 2024, 3, Tiger Brokers (Hong Kong) has obtained the Type 28 license approved by the Hong Kong Securities and Futures Commission to provide asset management services. In the future, it will be able to provide investors with a series of asset management services, including dedicated account services for retail and professional investors, and management of collective investment plans for professional investors.
Xu Yang, partner of Tiger International, said that in addition to professional investors, the 9 license also allows Tiger to provide full-power entrusted account services to retail investors, lowering the entry threshold.
Officially launched virtual asset trading services
On May 2024, 5, Tiger Brokers (Hong Kong) announced the official launch of virtual asset trading services, becoming one of the first technology brokerages in Hong Kong to support one-stop trading management of traditional securities and virtual assets.
Zeng Qingfei, Chief Financial Officer of Tiger International, said: "Tiger Brokers is honored to be one of the first Internet brokerages in Hong Kong to launch virtual asset trading, and to be the first to meet investors' demand for virtual asset trading. Investors' asset allocation needs are becoming more diversified, and Tiger Brokers' richer product portfolio will help investors capture different investment opportunities in the market; Tiger Brokers' unified trading platform helps investors seamlessly trade and manage different types of investments, improving user experience and further increasing investment efficiency."
“Tiger Brokers will offer competitive transaction rates. The commission for virtual asset transactions is as low as 0.2% of the transaction amount, and custody fees are waived. Unlike stock transactions, virtual assets are settled instantly and can be traded 7 hours a day, 24 days a week. Through Tiger Trade’s easy-to-use interface platform, all registered users in Hong Kong can also view real-time quotes and rankings of virtual asset gains and losses, and keep up with the virtual asset market anytime, anywhere. In addition, Hong Kong dollars and US dollars can also be exchanged instantly on a T+0 basis within the Tiger Trade App.”
Currently, Tiger's virtual asset trading services are only available to professional investors. In the future, Tiger Brokers plans to extend virtual asset trading services to retail investors, subject to regulatory requirements. In addition, the company will also consider adding virtual asset spot deposit and withdrawal services.
The launch of Tiger Brokers (Hong Kong)'s virtual asset trading service not only provides professional investors with more investment options and convenience, but also heralds further opening and innovation of Hong Kong's financial market in the field of virtual assets. With the gradual improvement of the regulatory framework and the continuous maturity of the market, brokerages will open more virtual asset businesses to institutional and retail investors, thereby promoting Hong Kong to become an important hub for global virtual asset trading.
Source: Bailu Living Room
Article author: Bowen