Hong Kong Retail Traders Get Access to Ripple Coin Through OSL
OSL Digital Securities has opened retail trading for XRP in Hong Kong, marking a significant milestone for Ripple Coin. The company's platform is now licensed by the Securities and Futures Commission (SFC) to offer direct spot trading for everyday investors.
The launch gives local users access to XRP with USD and HKD trading pairs, settled on the XRP Ledger. This is the first time retail investors in Hong Kong have been able to buy Ripple Coin on OSL's platform.
The new XRP/HKD pair allows users to trade with the Hong Kong dollar instead of moving money to overseas exchanges first.
XRP price has moved higher despite a drop in open interest, indicating that many short traders are leaving the market. Analyst CW notes that when traders close their positions, the market can continue moving higher without a rise in open interest.