Hong Kong's compliance process in the virtual asset sector has reached another milestone! On August 28, Guotai Junan International (01788) announced the official launch of cryptocurrency trading services for its clients, becoming the first Chinese-funded brokerage in Hong Kong to obtain the relevant license. This move means that qualified investors can trade five major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Chainlink (LINK), and Solana (SOL), through its app around the clock. This groundbreaking development not only provides overseas investors with a compliant channel for digital asset trading but also marks a new stage in the integration of traditional finance and cryptocurrency.
- Guotai Junan International: The first licensed Chinese-funded brokerage in Hong Kong to offer cryptocurrency trading
License Upgrade: In June of this year, Guotai Junan International received approval from the Securities and Futures Commission to upgrade its Type 1 (Securities Trading) regulated activity license to provide virtual asset trading services, becoming the first Chinese-funded brokerage to offer such services.
Trading Currencies: Qualified investors can trade Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Chainlink (LINK), and Solana (SOL) through the app at any time. Clients with Professional Investor (PI) status can further choose to trade Ripple (XRP), Tether (USDT), USD Coin (USDC), and other products.
Trading Experience: Guotai Junan International's CEO and Executive Director Qi Haiying stated that the digital asset trading service launched by the firm not only provides a smooth trading experience but also deeply integrates compliance, security, and functionality through innovative technology, aiming to set a new benchmark for the development of digital finance in Hong Kong.
Capital Allocation: Clients can also use Guotai Junan Securities (Hong Kong)'s securities trading services, such as choosing to allocate idle funds not invested in the cryptocurrency market into Guotai Junan International's "Wealth Management" program.
- Market Response: Stock Price Surge, Trading Volume Soars
Stock Performance: Guotai Junan International's stock price remained relatively stable on Thursday but surged on Friday, rising over 20% to reach HKD 6.28, with the latest increase still at 16%, reported at HKD 5.92.
Trading Volume: The trading volume reached HKD 4.5 billion, indicating a positive market response to Guotai Junan International's launch of cryptocurrency trading services.
- Strategic Significance: A New Chapter in the Integration of Traditional Finance and Virtual Assets
Meeting Overseas Investors' Needs: Qi Haiying stated that the demand for compliant digital asset trading services from overseas investors is continuously increasing. As the regulatory framework for digital assets becomes more refined, the firm will continue to expand the range of trading currencies and functionalities, with plans to launch more advanced digital asset services in the future to meet diverse client needs.
Consolidating Hong Kong's Position as an International Financial Center: Guotai Junan International's actions will not only consolidate its status as an international financial center but also provide an important reference model for the development of global digital finance.
Conclusion:
The official launch of cryptocurrency trading services by Guotai Junan International marks an important step in Hong Kong's compliance process for virtual assets. As the first licensed Chinese-funded brokerage in Hong Kong, it provides qualified investors with a convenient and compliant channel for digital asset trading and sets a new benchmark for the integration of traditional finance and cryptocurrency. In the future, with the participation of more traditional financial institutions, Hong Kong is expected to accelerate its transformation into a global digital finance hub.
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Original Article: “Guotai Junan International Launches Cryptocurrency Trading, Retail Investors Can Buy BTC, ETH, SOL, and Other Major Coins”
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