Mox Bank Launches US Dollar Cryptocurrency Trading

Mox Bank, led by Standard Chartered and jointly established by PCCW, HKT and Trip.com, has launched a cryptocurrency trading service.

The service currently supports Bitcoin (BTC) and Ethereum (ETH). Transactions are limited to US dollars.

Market sources said HashKey is the bank’s virtual asset trading partner.

According to HKET, Mox Bank recently upgraded its Type 1 license. This allows the bank to offer virtual asset trading through its integrated account platform.

The virtual asset trading platform partner is HashKey Exchange. Digital asset custody services are provided by HashKey Custody.

Mox Invest operates a four-tier membership structure. Virtual asset trading commissions are set at 1% for Basic members. Fees fall to 0.4% for Elite members.

ZA Bank launched its cryptocurrency trading service in July last year. Users must first open an investment account.

They can then trade Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Chainlink (LINK) and Solana (SOL).

Transactions can be made in either Hong Kong dollars or US dollars. At present, neither ZA Bank nor Mox Bank supports inbound cryptocurrency transfers.

ZA Bank charges a commission of US$1.99 or HK$15 per transaction. It also applies a platform fee of 1.5% of the transaction amount.

The minimum charge is US$1.99 or HK$15. During a promotional period, the bank waives commission fees. The platform fee is reduced to 0.8%. The minimum charge remains unchanged.

Featured image credit: Edited by Fintech News Hong Kong, based on image by bloodua via Freepik

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