HONG KONG—Hong Kong and Shanghai Banking Corporation (HSBC) — the biggest bank in Hong Kong — has reportedly introduced its first local cryptocurrency services.
HSBC has enabled its customers to buy and sell Bitcoin-based exchange-traded funds, Cointelegraph reported, citing a tweet from local journalist Colin Wu.
According to the report, HSBC will specifically offer cryptocurrency ETFs listed on the Stock Exchange of Hong Kong. At the time of writing, the exchange lists three crypto ETFs, including CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF and Samsung Bitcoin Futures Active ETF.
“The move aims to expand local users’ exposure to cryptocurrencies in Hong Kong. According to online reports, HSBC Hong Kong had 1.7 million active mobile customers as of March 2022. About 95% of all retail transactions of HSBC in Hong Kong are reportedly processed online,” Cointelegraph said.
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