Mox Bank opens platform to crypto-related investing

Mox Invest users can access and invest in crypto ETFs.

Mox Bank is introducing exchange-traded cryptocurrency funds (crypto ETFs) in its Mox Invest platform.

Customers of the Hong Kong virtual bank can access and invest in crypto ETFs using the Mox Invest platform beginning 7 August.

These include HK-listed spot and derivative Crypto ETFs and US-listed derivative Crypto ETFs. Investable underlying assets include Bitcoin and Ethereum for spot Crypto ETFs and Bitcoin and Ethereum futures for derivative Crypto ETFs.

Mox Invest offers a trading fee of 0.12% of the transaction value (minimum HK$30) for HK-listed ETFs and US$0.01 per share (minimum $5) for US-listed ETFs.

Mox said that it does not impose any custodian fee or management fee beyond those charged by the asset management company managing the specific ETF.

A 2021 survey by Visa, which found that nearly 1 in 3 or a third of people in Hong Kong have engaged in crypto, and 1 in 3 crypto owners are likely to switch their primary banks to one that offers crypto-related products.

Mox Invest’s new service makes Mox Bank the first virtual bank in Hong Kong to offer crypto-related investment products, according to a press release.

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