Mox Bank Limited (“Mox” or “the bank”) today is making it easier for Mox Invest customers to expand their portfolios with exchange-traded cryptocurrency funds (“Crypto ETFs”) directly on Mox Invest. The service offers a convenient way to gain exposure to the crypto market through a regulated and familiar investment platform without the complexities of managing a personal crypto wallet, making Mox the first virtual bank in Hong Kong to offer crypto-related investment products.
This new service comes at a pivotal time, as a survey¹ reveals nearly one-third of people in Hong Kong have engaged with crypto and 1 in 3 crypto owners are likely to switch their primary banks to one that offers crypto-related products. By fostering a culture of innovation in an increasingly dynamic and fast-paced business environment, Mox strategically aligns its services with customer demand and simplifies access for gaining confidence with an emerging asset class. Crypto-related investing available from the Mox app further solidifies Mox’s position as a forward-thinking digital bank.
A range of Crypto ETFs permitted to be offered to Hong Kong retail investors under Hong Kong regulations will be available via Mox Invest, including 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.
Barbaros Uygun, CEO of Mox, said
“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. 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.”
Enjoy low trading fees
With all investment products offered via a Mox Invest account within the Mox app, Mox Invest customers can conveniently start investing in Crypto ETFs using the same account. They can also enjoy Mox Invest’s significantly lower fees². The bank offers the same attractive securities trading commissions for HK-listed and US-listed Crypto ETFs – 0.12% of the transaction value (minimum HKD30) for HK-listed ETFs and USD0.01 per share (minimum USD5) for US-listed ETFs³. Mox does not impose any custodian fee or management fee beyond those charged by the asset management company managing the specific ETF.
¹According to the global study “The Crypto Phenomenon: Consumer Attitudes & Usage” conducted by Visa in 2021.
²Compared against the trading commission fees for retail customers of 20 local banks as of 22 July 2024.
³For details, please refer to the relevant Fees and Charges section in the Mox app or on the Mox website.