{"id":89055,"date":"2024-08-07T17:00:30","date_gmt":"2024-08-07T21:00:30","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=89055"},"modified":"2024-08-07T17:02:28","modified_gmt":"2024-08-07T21:02:28","slug":"mox-bank-debuts-crypto-etfs-for-retail-investor","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mox-bank-debuts-crypto-etfs-for-retail-investor\/","title":{"rendered":"Mox Bank Debuts Crypto ETFs for Retail Investors"},"content":{"rendered":"\n

Mox Bank has become the first virtual bank<\/a> in Hong Kong to provide spot crypto exchange-traded funds to retail investors.<\/p>\n\n\n\n

\"Mox
Mox Bank Debuts Crypto ETFs for Retail Investors<\/figcaption><\/figure>\n\n\n\n

\u00a0As the city strives to establish itself as an international crypto center, Mox Bank, a digital bank headquartered in Hong Kong, has initiated trading services that utilize spot crypto ETFs<\/a>. <\/p>\n\n\n\n

Mox announced in a press release on August 7 that it has become the first virtual bank in Hong Kong to offer retail traders these investment options. <\/p>\n\n\n\n

The bank observed that the introduction occurs at a critical juncture, as a recent survey revealed that nearly one-third of Hong Kong residents have engaged with cryptocurrencies. <\/p>\n\n\n\n

Furthermore, Mox noted that one-third of cryptocurrency owners will likely transition their primary banking services to institutions that provide crypto-related products. <\/p>\n\n\n\n

Mox has announced that it will offer a diverse selection of crypto ETFs permissible under Hong Kong regulations. <\/p>\n\n\n\n

This includes spot and derivative crypto ETFs listed on Hong Kong and U.S. exchanges\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. The press release specifies that Bitcoin and Ethereum are among the assets available for spot ETFs, while futures back derivative ETFs.\u00a0<\/p>\n\n\n\n

Standard Chartered Doubles Down on Crypto<\/h2>\n\n\n\n

The bank will charge a trading fee of 0.12% of the transaction value for ETFs listed in Hong Kong and the United States in order to attract consumers. <\/p>\n\n\n\n

Mox added that it will not impose any additional custodian or management fees in addition to those charged by the asset management companies that administer the specific ETFs. <\/p>\n\n\n\n

Mox, a virtual bank, was established in September 2020 and is supported by Standard Chartered<\/a>. This latest development further emphasizes Standard Chartered's dedication to expanding its presence in the crypto sector. <\/p>\n\n\n\n

The bank is also investing in other areas with this strategy. Notably, the Hong Kong Monetary Authority announced in mid-July that Standard Chartered is one of the participants in the stablecoin sandbox, which enables the bank to experiment with issuing digital assets backed by fiat currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mox Bank has become the first virtual bank in Hong Kong to provide spot crypto exchange-traded funds to retail investors. \u00a0As the city strives to establish itself as an international crypto center, Mox Bank, a digital bank headquartered in Hong Kong, has initiated trading services that utilize spot crypto ETFs. Mox announced in a press […]<\/p>\n","protected":false},"author":43,"featured_media":89056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[899,21151,2030],"class_list":["post-89055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-etfs","tag-mox-bank","tag-standard-chartered"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/croc_1723062307147.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=89055"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/89056"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=89055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=89055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=89055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}