Tiger Securities (Hong Kong), an internet-based brokerage firm, announced yesterday (25th) that it has obtained the conditions for upgrading its Type 1 license from the Hong Kong Securities and Futures Commission. In the future, professional investor clients will be able to trade virtual assets on Tiger Securities’ trading platform, Tiger Trade.
Investors can trade Bitcoin and Ethereum on Tiger Trade. Tiger Securities stated that Hong Kong residents with investment assets exceeding HKD 8 million or institutions with assets exceeding HKD 40 million will be able to trade virtual assets, including Bitcoin and Ethereum, on Tiger Trade.
As for when retail investors will be able to trade virtual assets, Tiger Securities stated that it is currently under planning and awaiting regulatory approval. Tiger International’s CFO, Tony Li, stated:
“What is Tiger Securities?
Tiger Securities was established in 2014 and is listed on the NASDAQ with the stock code TIGR. It is an online brokerage firm. According to official information, Tiger Trade, its independently developed trading platform, has more than 10 million users in countries and regions such as the United States, Singapore, Australia, and New Zealand, with an annual trading volume exceeding USD 400 billion.
The upgraded license from the Hong Kong Securities and Futures Commission is obtained by Tiger Securities’ Hong Kong subsidiary, which holds the Type 1, 2, 4, and 5 licenses. Since entering the Hong Kong market, Tiger Securities has been focused on providing zero commissions and zero platform fees for Hong Kong stock trading, and has launched its wealth management product, Tiger Vault, in the Hong Kong market.