Shanghai Banking Corporation (HSBC), the largest bank in Hong Kong and Hong Kong, was reported to have introduced its first local crypto services in a tweet today by local journalist Colin Wu.
According to the report, HSBC will offer cryptocurrency ETFs specifically listed on the Hong Kong Stock Exchange. At the time of writing, the stock market is trading three cryptocurrency ETFsamong them CSOP Bitcoin Futures ETFCSOP Ethereum Futures ETF and Samsung Bitcoin Futures Active ETF.
SCOOP: HSBC, Hong Kong’s largest bank, today allows its customers to buy and sell Bitcoin and Ethereum ETFs traded on the Hong Kong exchange, and is also the first bank in Hong Kong to do so. The proposal will increase local users’ exposure to cryptocurrencies in Hong Kong.
SCOOP: HSBC, Hong Kong’s largest bank, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange and is also the first bank in Hong Kong to do so. The move will increase local users’ exposure to cryptocurrencies in Hong Kong. pic.twitter.com/vH0LieSVGw
— Wu Blockchain (@WuBlockchain) 26 June 2023
Strategy, Increasing local users’ exposure to cryptocurrencies in Hong Kong. As he reported onlineHSBC Hong Kong had 1.7 million active mobile customers as of March 2022. Approximately 95% of all HSBC retail transactions in Hong Kong are conducted online.
HSBC did not respond to Cointelegraph’s request for comment. The article will be updated in case of new information.
The new services come with the launch of HSBC’s Virtual Asset Investor Education Center. Attempt, protect investors from cryptocurrency-related risksrequire them to review and approve training materials and risk information before investing.
The training center will be available in HSBC’s virtual assets related products such as the HSBC HK Easy Invest App, HSB CHK Mobile Banking App and Internet Banking.
The news was reported by the media in mid-June, allegedly by the Hong Kong Monetary Authority. Complete prints large banks accepting cryptocurrency exchanges as customers. The region’s central bank and regulator also allegedly questioned why companies such as HSBC and Standard Chartered did not accept cryptocurrency exchanges as clients.
Translation of Walter Rizzo