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Tiger Brokers (HK) officially launches virtual asset trading services, leading the way in Hong Kong’s online brokerage industry

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Effortlessly manage traditional securities and virtual assets with one app Tiger Trade: tailored to meet diverse investment needs 

  • Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, through the Tiger Trade app.
  • The one-stop platform enables seamless management of traditional securities and virtual assets, fostering more flexible and diversified asset allocation strategies.

HONG KONG, May 6, 2024 /PRNewswire/ — Tiger Brokers (HK) (“Tiger Brokers (HK)” or “Tiger Brokers”) announced the launch of its virtual asset trading services, becoming one of the first online fintech brokers in Hong Kong to offer a single platform that allows trading and managing both traditional securities and virtual assets. Professional investors in Hong Kong can now use Tiger Trade, Tiger Brokers’ flagship investment app, to trade 18 virtual assets including Bitcoin (BTC) and Ethereum (ETH), alongside stocks, options, futures, US Treasury bonds, funds, and other global assets, all at an affordable cost. This eliminates the need for multiple accounts across different brokers and platforms, making global asset allocation simpler and more convenient.

John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers stated: “We are honored to be among the first fintech brokerage firms in Hong Kong to introduce virtual asset trading, leading the way in meeting investors’ evolving needs. As investors’ asset allocation requirements become increasingly diverse, our expanded product portfolio will help them seize various market opportunities. Our unified trading platform allows investors to trade and manage different types of investments seamlessly, enhancing user experience and boosting investment efficiency.”

He added: “With Hong Kong’s efforts to develop into a Web3.0 hub, we are confident in its vision. Hong Kong is one of the pioneering international financial centers introducing comprehensive regulations for virtual asset and fostering a trading-friendly environment. We aspire to bolster Hong Kong’s competitiveness in the global financial landscape through our contributions.”

Secure, convenient, and affordable virtual asset trading experience

Having previously secured an upgrade to its Type 1 license conditions from the Securities and Futures Commission of Hong Kong (“SFC”), Tiger Brokers is aiming to offer professional investors secure virtual asset trading services, strictly adhering to legal and regulatory requirements.

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Tiger Brokers continues to offer competitive trading rates, with virtual asset trading fees at only 0.2% of the transaction value, and custody fees waived. Unlike stock trading, virtual assets are settled instantly and can be traded 24/7. All registered users in Hong Kong can view real-time quotes, as well as top gainers and losers of virtual assets, via the user-friendly Tiger Trade interface, keeping abreast of market conditions anytime, anywhere. Furthermore, the Tiger Trade App enables instant T+0 exchange between Hong Kong dollars and US dollars.

Currently, Tiger Brokers’ virtual asset trading services are available only to professional investors. Eligible clients, including Hong Kong residents with over HKD 8 million in investment portfolio or corporate entities with assets exceeding HKD 40 million, can submit professional investor application on Tiger Trade. Customers also have the option to schedule an in-person visit to the Tiger Brokers office, where professional representatives will assist customers in completing the account opening and certification process. Looking ahead, Tiger Brokers plans to extend its virtual asset trading services to retail investors, subject to regulatory approval. Additionally, the company is considering the introduction of virtual asset spot withdrawal and deposit services.

Beyond virtual asset spot trading, Tiger Brokers also offers trading of U.S.-listed bitcoin spot ETFs and Hong Kong-listed spot bitcoin and ether ETFs to Hong Kong investors. Since entering the Hong Kong market just over a year ago, Tiger Brokers has won widespread acclaim from local users through the introduction of numerous innovative products and services. Recently, the SFC granted Tiger Brokers a Type 9 license for asset management services. With this, Tiger Brokers can offer a suite of asset management services, such as dedicated account services for both retail and professional investors, and collective investment scheme management for professional investors, thereby providing comprehensive support for the diverse investment needs of both retail and professional investors.

About Tiger Brokers (HK)

Tiger Brokers (HK) Global Limited (Central number: BMU940) holds type 1, 2, 4, 5 and 9 licenses of the SFC. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.

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About Tiger Brokers

Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage group with a focus on redefining global investing with technologies for the next generation.

Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage group.

We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services accessible to all with low latency.

Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 78 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.      

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View original content:https://www.prnewswire.co.uk/news-releases/tiger-brokers-hk-officially-launches-virtual-asset-trading-services-leading-the-way-in-hong-kongs-online-brokerage-industry-302136683.html

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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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Blockchain

1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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