Online brokerage UP Fintech Holding Limited (NASDAQ:TIGR) today announced that its Hong Kong subsidiary has officially upgraded its Type 1 license to include virtual asset dealing service.
This successful upgrade opens the door for providing cryptocurrency trading services to Professional Investor clients in Hong Kong through its flagship platform, Tiger Trade. By integrating Tiger Brokers’ technology-driven brokerage expertise, the company aims to offer Professional Investors in Hong Kong an unparalleled convenience of seamless trading of both traditional securities and cryptocurrencies on a unified platform.
In the future, the company also plans to open virtual asset trading to retail investors, subject to authorities’ approval.
After this upgrade, eligible clients, including Hong Kong residents with over HKD 8 million in investable assets or corporate with assets exceeding HKD 40 million, can seamlessly incorporate cryptocurrency trading into their portfolios alongside other asset classes available on our flagship platform Tiger Trade.
In the future, residents of Hong Kong can conveniently trade virtual assets such as Bitcoin and Ethereum alongside stocks, options, futures, funds, and ETFs—all in one place. With centralized investment management, this enables local clients to measure their risk exposure across different asset classes.
John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers, commented:
“Investor demand for digital assets continues to grow in Hong Kong and around the world, and we are pleased to expand our business scope to meet the growing demand of clients in this important market. Eligible clients will benefit from our low costs and the ability to trade crypto alongside many other global products from a single unified platform without needing to open an extra account.”
