YAX (Hong Kong), a wholly-owned subsidiary of Tiger Brokers, has received Type 1 (dealing in securities) and Type 7 (automated trading service (ATS)) licences from the Hong Kong Securities and Futures Commission (SFC).
YAX has obtained official licensing as a virtual asset trading platform operator in Hong Kong and has been authorised to extend its operations to include retail business, according to a statement by the firm.
At its official launch, the platform will enable clients to custody and trade cryptocurrencies. YAX said it offers secure and reliable custodial services, ensuring the comprehensive protection of digital assets, while facilitating smooth and efficient trading to optimize capital flow.
YAX added that the platform employs robust security measures, including the effective segregation of client funds from YAX Exchange’s operations and protection through institutional-grade custody insurance, ensuring the safety of user accounts and assets.
Wu Tianhua, CEO and co -founder of Tiger Brokers, said, “The global virtual asset sector has rapidly developed in recent years, showing immense potential. Cryptocurrencies are a key future investment trend.”
Kelvin Liu Kai, CEO of YAX (Hong Kong) added: “As a pioneer of innovation, YAX is committed to providing users with a safer, more efficient, and open trading platform while addressing various challenges in cryptocurrency trading.”
Tiger Brokers (HK) Global Limited holds type 1, 2, 4, 5 and 9 licences of the Securities and Futures Commission. Starting from 30 November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs.
