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On May 6, 2024, according to Yahoo Finance, Tiger Securities (Hong Kong) officially launched a virtual asset trading service.Professional investors in Hong Kong can trade 18 virtual assets in one-stop through Tiger Trade, Tiger Securities investment platform, as well as various global assets such as stocks, options, futures, US Treasury bonds, funds, etc., without opening and managing different securities companies and platforms.Account.
With the successful listing of Bitcoin and Ethereum spot ETFs in Hong Kong, the Hong Kong virtual asset market has entered a new stage.Institutions and retail investors from traditional finance already have a diverse entry options; if the market wants to continue to move forward, it needs to start to make efforts in innovation implementation and distribution promotion.In this process, the importance of brokerages in the role of “bridge” connecting investment and Web3 will increase.In the face of “old money”, the professional knowledge and experience of securities companies in risk management will be an important barrier to ensure the safety of investors’ assets and an important support for the continued expansion and deepening of the market.
As a member of traditional brokerage firms, Tiger Securities also seized this opportunity and actively launched a virtual asset market layout.In this issue of the article, Bailu Recreation Room will help readers understand the layout of Tiger Securities’ virtual assets and find more opportunities.
Tiger Securities
Founded in 2014, Tiger Securities is headquartered in Beijing, China, focusing on improving trading efficiency for individual investors.The company provides trading services for US stocks, Hong Kong stocks and British stocks, andHave obtained broker licenses or licenses in the United States, New Zealand and Australia.Tiger Securities (Hong Kong) is a branch of Tiger Securities in Hong Kong and holds Class 1, 2, 4, 5 and 9 licenses issued by the Hong Kong Securities Regulatory Commission.
In 2023, Tiger Securities’ total revenue was US$273 million, an increase of 21% over 2022; as of the end of 2023, Tiger Securities’ total customer assets reached US$30.6 billion, an increase of more than 100% year-on-year; in the third quarter of 2023, Tiger SecuritiesGlobal account opening customers increased by 29,000, totaling 2.15 million; deposit customers increased by 25,000, totaling 870,000.Tiger Securities’ business was well underway in 2023, and the company’s global expansion and product innovation also contributed to its growth.
Completed the upgrade of No. 1 license plate
Approved by Hong Kong Securities Regulatory Commission No. 9
On January 25, 2024, Tiger Securities announced thatObtaining Hong Kong Securities Regulatory Commission to enhance its Category 1 license conditions, allowing professional investors to trade virtual assets on the SFC licensed platform through Tiger Securities.In the future, Tiger Securities plans to open virtual asset trading to retail investors on the premise of meeting regulatory requirements.
In response, Tiger International Chief Financial Officer Zeng Qingfei said: “This license upgrade is an important step for Tiger Securities. I am very happy to introduce virtual asset trading in the future to further meet customers’ trading needs in this important area.”
On March 28, 2024, Tiger Securities (Hong Kong) has obtained a Class 9 license approved by the Hong Kong Securities Regulatory Commission to provide asset management services. In the future, it can provide investors with a series of asset management services, including specialized for retail and professional investors.household services, 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 retail investors with full entrusted special account services, lowering the entry threshold.
Officially launch virtual asset trading service
On May 6, 2024, Tiger Securities (Hong Kong) announced that it had officially launched a virtual asset trading service, becoming the first batch of technology brokers 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 Securities is honored to be one of the first Internet brokers to launch virtual asset trading in Hong Kong, and is the first to meet investors’ needs for virtual asset trading. Investors’ asset allocation needs are becoming more diversified.Tiger Securities’ richer product portfolio will help investors capture different investment opportunities in the market; Tiger Securities’ unified trading platform helps investors seamlessly trade and manage different investment types, improving user experience and further increasing investment.efficiency.”
“Tiger Securities will offer competitive transaction rates. Virtual asset trading commissions are as low as 0.2% of the transaction volume and custody fees are exempted. Unlike stock trading, virtual assets are instant settlement and can be traded for 7×24 hours. ByTiger Trade is an easy-to-use interface platform. All registered users in Hong Kong can also view the real-time quotations of virtual assets and the rankings of rising and falling rates, and closely follow the virtual asset market conditions anytime and anywhere. In addition, the Hong Kong dollar and US dollar can also realize T+0 instantaneousness in the Tiger Trade App.exchange.”
Currently, Tiger Virtual Asset Trading Service is only available to professional investors.In the future, Tiger Securities plans to extend its virtual asset trading services to retail investors on the premise of meeting regulatory requirements.In addition, the company will also consider increasing the spot deposit service for virtual assets.
The launch of Tiger Securities (Hong Kong)’s virtual asset trading service not only provides professional investors with more investment options and convenience, but also indicates 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, securities companies will open more virtual asset businesses to institutions and retail investors, thereby promoting Hong Kong to become an important hub for global virtual asset trading.
