A Hong Kong-based virtual bank has launched a new service for its customers: crypto exchange-traded fund trading.
The bank, called Mox, is a subsidiary of Standard Chartered and is the first of its kind to offer spot trading of Bitcoin and Ether ETFs directly on its platform.
Mox has plans to expand its crypto offerings in the future, including allowing customers to purchase and trade crypto assets directly through a licensed exchange.
This service is being positioned as a cost-effective option, with fees of 0.12% of transaction volume with a minimum of 30 Hong Kong dollars ($3.85) for Hong Kong-listed spot and derivatives ETFs, and 0.01% per share with a minimum of $5 for US-listed derivatives ETFs.
