HSBC, the prominent financial institution in Hong Kong, has recently launched its cryptocurrency services specifically tailored to the local market.
According to local journalist Colin Wu, who reported on Twitter, HSBC Hong Kong now allows its customers to buy and sell exchange-traded funds (ETFs) related to Bitcoin and Ethereum. This move is significant as HSBC becomes the first bank in Hong Kong to offer such services.
HSBC has taken the lead in Hong Kong by allowing its customers to trade cryptocurrency ETFs listed on the Hong Kong Exchange (HKEX). Currently, HKEX offers three crypto ETFs, namely CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.
To increase the adoption of cryptocurrencies among local users in Hong Kong, HSBC has launched a Virtual Asset Investor Education Center. This initiative aims to protect investors from potential risks associated with cryptocurrencies. Before investing, individuals are required to review educational materials and risk disclosures.
According to reports, the education center is easily accessible through HSBC’s virtual asset-related products, such as the HSBC HK Easy Invest app, HSB CHK Mobile Banking app, and online banking platforms.
Compiled by Coinbold
