Mox Bank has been granted an upgraded Type 1 license, becoming the second Hong Kong digital bank to support trading in virtual assets such as BTC and ETH.
Hong Kong-based digital bank Mox Bank announced that it has received regulatory approval to upgrade its Type 1 license, enabling it to offer virtual asset trading services to clients through integrated accounts. However, at this stage, it only supports USD trading of Bitcoin and Ethereum. Trading fees are divided into four membership tiers, with the lowest tier, Basic, charging 1.25% commission on virtual asset transactions, while the highest tier, Elite, charges 0.5%. Mox Bank is reportedly the second digital bank to receive approval for virtual asset trading. Previously, ZA Bank launched cryptocurrency trading services in July last year, supporting HKD or USD trading of BTC, ETH, SOL, LINK, etc. (Hong Kong Economic Journal)
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