May 20, 2024
NFT Metta editor Tsering Namgyal spoke to Kelvin Liu, VP of Engineering and Head of Crypto Business, Tiger Brokers on their new platform which allows investors to access virtual asset products alongside traditional investment products.
Q: Congratulations on your new platform! What sort of demand are you expecting for your new platform, especially from virtual asset investors?
A: As we see an increasing demand for digital assets among investors globally and in Hong Kong, we have expanded our services to meet this need.
Our platform allows eligible clients to trade cryptocurrencies alongside other global products. This is all accessible from one unified platform, eliminating the need for multiple accounts. We believe this will improve our clients’ asset allocation management efficiency and provide a seamless global trading experience.
At Tiger Brokers, we’re committed to offering low-cost solutions without compromising on quality or diversity of options. Our goal with this platform is to empower investors to capitalize on the growing digital asset market efficiently and effectively.
Q: It seems you are bullish on Hong Kong’s role as a virtual asset investment hub. What is your view on Hong Kong’s Web3 vision and how does your work align with this?
A: Indeed, Tiger Brokers is optimistic about Hong Kong’s potential as a hub for virtual asset investment. The city’s vision for Web3 aligns perfectly with our mission at Tiger Brokers.
The recent introduction of Bitcoin and Ethereum spot ETFs in Hong Kong is a game-changer. It has far-reaching implications that will shape the global landscape of the virtual asset market in several ways.
From an investor’s perspective, Hong Kong’s role as an international financial center is pivotal. The city is poised to enhance regulatory order and transparency for virtual asset investments, which is crucial in this rapidly evolving sector. This development aligns with our commitment at Tiger Brokers to provide a secure and transparent trading environment for our clients.
From a trading standpoint, Hong Kong is one of the world’s most active ETF trading markets. The addition of virtual asset ETFs will significantly boost market liquidity in the virtual asset sector. At Tiger Brokers, we’re prepared to leverage this increased liquidity to offer our clients more diverse and flexible trading options.
Lastly, from an industry standpoint, Hong Kong has consistently been at the forefront of financial innovation. The introduction of virtual asset ETFs provides valuable insights for other financial centers worldwide. We at Tiger Brokers are excited to be part of this innovative journey, contributing to the broader Web3 vision by offering cutting-edge trading solutions.
Q: Currently, you only serve professional investors. I am curious about when you would be able to provide retail investors with both crypto and traditional asset products to retail investors?
A: At present, Tiger Brokers’ services are indeed tailored to professional investors. However, we understand the growing interest in both crypto and traditional asset products among retail investors.
Tiger Brokers also has plans to expand our offerings to include retail investors as well. This expansion is subject to regulatory approval. At Tiger Brokers, we are committed to adhering to all relevant regulations and guidelines to ensure a secure and transparent trading environment for all our clients.
Q: Your goal is to be a leading broker for both traditional and virtual asset classes (including both spot and BTC and ETH ETFs). Where do you see the demand for ETFs coming from?
A: Tiger Brokers believes that the demand for ETFs, particularly Bitcoin and Ether spot ETFs, will primarily come from Asian investors. Hong Kong’s unique position as a global financial center and its burgeoning status as a blockchain hub make it an attractive destination for capital.
Spot Bitcoin and Ether ETFs in Hong Kong offer a distinct advantage with their dual redemption methods – cash and physical. This feature is expected to boost liquidity and arbitrage opportunities, promoting overall market efficiency. At Tiger Brokers, we’re ready to leverage these benefits to provide our clients with more flexible trading options.
The approval of Bitcoin ETFs introduces a regulated investment channel for investors, significantly reducing the compliance risks and operational complexities associated with direct Bitcoin investments. This aligns perfectly with our commitment at Tiger Brokers to simplify the investment process while ensuring regulatory compliance.
Institutional investors typically prefer such regulated channels. However, the liquidity and trading convenience offered by Bitcoin ETFs also make them an appealing choice for retail investors seeking exposure to Bitcoin. These ETFs can help investors manage risk effectively and improve risk-adjusted returns.
At Tiger Brokers, we are poised to meet this demand and continue our journey towards becoming a leading broker for both traditional and virtual asset classes.
Q: You provide a one-stop service for both traditional and virtual assets on one platform. Does it signify a maturation of virtual assets as an asset class?
A: The emergence of the digital economy, propelled by the new economic era and Web3.0, presents one of the most promising investment opportunities for the future. Within this landscape, cryptocurrencies have emerged as key players, highly regarded and widely invested in within the Web3.0 ecosystem.
The approval by the Securities and Futures Commission (SFC) of Hong Kong for the listing of crypto ETFs marks a significant milestone. It signifies the growing acceptance and integration of virtual assets into the traditional financial market structure, suggesting some level of maturation of virtual assets as an asset class.
Bitcoin, with its low correlation to traditional asset classes, offers an effective diversification tool for investors. At Tiger Brokers, our aim from the beginning has been to provide our clients with a broad range of regulated product offerings. This allows them to trade with confidence and efficiency on a single platform that caters to both traditional and virtual assets.
However, while we’re excited about the potential of virtual assets, we also urge our investors to approach this emerging market with caution. It’s essential to remain rational and objective, conducting thorough assessments of market conditions, investment preferences, and risk management strategies. We strongly advise against blindly following trends. Instead, we encourage informed decision-making based on comprehensive research and analysis.
About the spokesperson
Kelvin Liu, VP of Engineering and Head of Crypto Business, Tiger Brokers
Mr. Kelvin Liu has more than 15 years of experience in the online advertising and fintech industry as architect and manager. He is the VP of Engineering and head of crypto business at Tiger Brokers (Nasdaq: TIGR) where he leads 300+ talented engineers focusing on building Tiger’s Trading System, Data and Growth Platform and User Products. Prior to serving Tiger, he took the leadership role in Youxin Financial’s Technology and Engineering Group responsible for building anti-fraud systems, core risk management systems, intelligent customer service etc. Mr. Liu was Director of Engineering at Yahoo USA, led data infrastructure/ML platform, identity graph, location targeting for all Yahoo’s advertising platforms, he was an invited speaker at Hadoop Summit 2016. He was the tech leader of Aibang Inc, which was the leading local search provider, founded by Jerry Liu (former CTO of Baidu) in 2007. As one of the founding engineers who helped build China’s first vertical search engine focusing on local business info (Think Yelp).
Mr. Liu holds a M.S. degree in Computer Science from Institute of Software, Chinese Academy of Sciences. He obtained a B.S. degree from Huazhong University of Science and Technology.
About the author:
Tsering Namgyal is chief content officer of NFTMetta.com.
