Deniz 
Launching crypto exchange-traded fund trading for its clients, a virtual bank located in Hong Kong is also considering possible growth into spot trading markets.
Mox, a virtual bank affiliate of Standard Chartered, revealed on Aug. 7 the introduction of a crypto ETF service, becoming the first bank of its type to provide direct trading of spot Bitcoin and Ether ETFs on its platform.
Through a relationship with a licensed exchange, the bank also intends to increase its crypto offers, including allowing direct purchases and trading of crypto assets in the future.
Charging 0.12% of transaction volume with a minimum of $3.85 (30 Hong Kong dollars) for Hong Kong-listed spot and derivatives ETFs and 0.01% per share with a minimum of $5 for US-listed derivatives ETFs, Mox is positioned as a reasonably affordable alternative for crypto ETF trading.
Approved and starting trading in Hong Kong on April 30, spot crypto ETFs help the nation project itself as a crypto hub for the Far East.
Launched in September 2020, the digital bank also notes that 28% of its clients are already crypto-invested, with 18% of those active crypto traders.
Before adding, “staying ahead of the competition by being innovative and responsive to changing markets,” Mox CEO Barbaros Uygun stated the digital bank has a mission of developing a global benchmark from Hong Kong.
“Adding crypto ETFs to the Mox Invest platform empowers our clients to gain access to developing asset classes with confidence.”
Jayant Bhatia, the chief product officer of the bank, told the South China Morning Post that the launch of the crypto ETF marks “just the start of what Mox intends to offer in the crypto investing space,” but he refrained from specifying when crypto trading services would be introduced.