HSBC clients in Hong Kong can now purchase Bitcoin (BTC) and Ethereum (ETH) futures ETFs, per crypto reporter Colin Wu.
Wu wrote:
“The transfer will increase native customers’ publicity to cryptocurrencies in Hong Kong.“
Presently, within the area, cryptocurrency ETFs reminiscent of CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Energetic ETF are listed.
Tied to the rollout is the HSBC Digital Asset Investor Schooling Centre, which goals to coach clients concerning the varied dangers related to cryptocurrencies. Customers wishing to purchase crypto ETFs by way of the platform should learn and “affirm the tutorial supplies” earlier than investing.
Hong Kong has more and more positioned itself as a crypto-friendly jurisdiction of late. A number of initiatives intention to encourage digital asset participation, together with establishing an trade licensing system, funding for web3 growth, and regulatory requires banks to deal with crypto shoppers pretty.
Moreover, metropolis officers mentioned they’re dedicated to introducing stablecoin laws by 2024. Secretary for Monetary Companies and the Treasury, Christopher Hui Ching-yu, commented {that a} “holistic and predictable” strategy can be taken.
CryptoSlate reached out to HSBC Hong Kong for additional remark it didn’t reply by press time.
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