UP Fintech announces upgrade of Type 1 license to include virtual asset dealing

UP Fintech announced that its Hong Kong subsidiary has officially upgraded its Type 1 license to include virtual asset dealing service, making it one of the first mainstream online brokerage firms in Hong Kong to receive approval for such a license upgrade. This successful upgrade opens the door for providing cryptocurrency trading services to Professional Investor clients in Hong Kong through its flagship platform, Tiger Trade. By integrating Tiger Brokers’ technology-driven brokerage expertise, the company aims to offer Professional Investors in Hong Kong an unparalleled convenience of seamless trading of both traditional securities and cryptocurrencies on a unified platform. In the future, the company also plans to open virtual asset trading to retail investors, subject to authorities’ approval. After this upgrade, eligible clients, including Hong Kong residents with over HKD 8M in investable assets or corporate with assets exceeding HKD 40M, can incorporate cryptocurrency trading into their portfolios alongside other asset classes available on our flagship platform Tiger Trade. In the future, residents of Hong Kong can conveniently trade virtual assets such as Bitcoin and Ethereum alongside stocks, options, futures, funds, and ETFs-all in one place. With centralized investment management, this enables local clients to measure their risk exposure across different asset classes.