Standard Chartered-backed Mox Bank becomes the first virtual lender in Hong Kong to offer crypto investing for customers.
Mox Bank will allow customers to invest in crypto exchange-traded funds (ETF), according to a statement. This makes it the first virtual bank in Hong Kong to launch crypto-related investment products. The offering will include Hong Kong and US-listed spot and derivative crypto ETFs linked to both bitcoin and ether.
«Adding Crypto ETFs to the Mox Invest platform empowers our customers to gain access to emerging asset classes with confidence, allowing them to explore new investment opportunities within the evolving crypto ecosystem in a regulated and trusted environment and through a safe and simple way via the Mox app,» commented Mox CEO Barbaros Uygun.
Hong Kong Demand
According to a 2021 survey by Visa entitled «The Crypto Phenomenon: Consumer Attitudes & Usage», around one-third of Hongkongers have engaged in crypto and are likely to switch their primary banks to one that offers products related to the digital asset class.
«As a digital bank with a vision of building a global benchmark from Hong Kong, Mox believes in staying ahead of the competition by being innovative and responsive to changing markets,» Uygun added.
