Mox Bank Ltd., aiming to differentiate itself from traditional banks in Hong Kong through its competitive pricing and virtual banking model, has launched spot cryptocurrency exchange-traded funds (ETFs). Unlike conventional trading platforms, Mox offers these ETFs at lower costs due to its virtual nature.
Mox charges 0.12% of the transaction volume for Hong Kong-listed ETFs with a minimum fee of HK$30 (US$3.84), and only 0.01% per share, equating to a US$5 minimum fee, for US-listed ETFs. This pricing structure is considered highly competitive and significantly lower than what traditional banks in Hong Kong offer.
Despite the recent volatility in cryptocurrencies following a record high in March 2022, Mox remains confident that crypto investing will endure as an essential option for savvy investors seeking diversified asset classes and professional-level trading tools. With plans to expand its offerings through future products like the “core portfolio” solution tailored to individual customer profiles, Mox continues to establish itself in Hong Kong’s evolving crypto financial services market.