Introduction
South African bank, Investec, is planning to launch a digital asset retail trading platform in Hong Kong under new guidelines. The platform will allow customers to trade cryptocurrencies and other digital assets, making Investec the latest financial institution to enter the digital asset space.
Investec’s Plans
Investec’s digital asset retail trading platform will be launched in Hong Kong, where the bank already has a presence. The platform will allow customers to trade cryptocurrencies and other digital assets, and will be subject to new guidelines issued by the Hong Kong Securities and Futures Commission (SFC).
The SFC issued new guidelines for digital asset trading platforms in November 2019, which require platforms to obtain a license and comply with anti-money laundering and counter-terrorist financing regulations. Investec’s platform will be one of the first to launch under these new guidelines.
Related:Hong Kong Crypto Exchanges to Serve Retail in June
Benefits of the Platform
Investec’s digital asset retail trading platform will provide customers with access to a range of digital assets, including cryptocurrencies, security tokens, and stablecoins. The platform will also offer a range of trading tools and educational resources to help customers make informed investment decisions.
Investec’s move into the digital asset space is part of a broader trend among financial institutions, as they seek to capitalize on the growing interest in cryptocurrencies and other digital assets. By offering a digital asset retail trading platform, Investec is positioning itself as a leader in this space.
Conclusion
Investec’s plans to launch a digital asset retail trading platform in Hong Kong under new guidelines is a significant development in the digital asset space. The platform will provide customers with access to a range of digital assets, and will be subject to new guidelines issued by the Hong Kong Securities and Futures Commission. As financial institutions continue to enter the digital asset space, Investec’s move positions it as a leader in this growing market.
