Mox, a virtual bank subsidiary of Standard Chartered, has introduced Bitcoin and crypto exchange-traded fund (ETF) trading on its investment platform, making it the first virtual bank in Hong Kong to offer such products.
By leveraging its lean virtual bank infrastructure, Mox offers lower fees on Bitcoin ETFs compared to traditional brokerages, charging 0.12% of transaction volume on Hong Kong ETFs and 0.01% per share for US ETFs.
Mox CEO Barbaros Uygun stated that the addition of Bitcoin and crypto ETFs allows customers to access emerging asset classes.
As a subsidiary of Standard Chartered, Mox benefits from the resources and credibility of a major global bank, potentially prompting competitors to expand their crypto offerings.
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