Hong Kong's first mainland Chinese brokerage firm obtains a virtual asset trading license

On June 25, 2025, Guotai Junan International Holdings Limited announced that its wholly-owned subsidiary Guotai Junan Securities (Hong Kong) Limited obtained approval from the Hong Kong Securities and Futures Commission on June 24 to upgrade its existing Type 1 (Securities Trading) regulated activity license to provide virtual asset trading services. This marks the company as the first Chinese brokerage firm authorized to offer comprehensive virtual asset trading services in Hong Kong, opening a convenient channel for clients to directly trade mainstream cryptocurrencies such as Bitcoin, Ethereum, and Tether.

After the announcement of the news, the market reacted enthusiastically. The stock price of Guotai Junan International surged significantly at the opening, with an intraday peak increase of over 100%, reflecting investors' strong confidence in this strategic breakthrough. Meanwhile, the stock price of Huashan Co., which holds 67.6 million shares of Guotai Junan International's circulating shares, also rose, with an intraday increase exceeding 8%, demonstrating the market's widespread optimism towards the virtual asset trading sector.

Strategic Background of the Virtual Asset Market in Hong Kong

The recent license upgrade by Guotai Junan International is an important reflection of Hong Kong's strategy to build a global core hub for virtual assets. Since the release of the "Hong Kong Virtual Asset Development Policy Declaration" in 2022, Hong Kong has established a regulatory framework for digital assets that balances innovation and risk prevention through a series of measures. In February 2025, the regulatory roadmap released by the Hong Kong Securities and Futures Commission further clarified the policy direction to support the development of the virtual asset market. In May, the passage of the "Stablecoin Ordinance Bill" laid the foundation for Hong Kong's integration into the global digital asset ecosystem.

In this context, the breakthrough of Guotai Junan International is not only a milestone in the company's own development but also reflects the trend of traditional financial institutions actively responding to Hong Kong's policy direction and deeply participating in the virtual asset industry. Analysis points out that, relying on the innovative synergy and open market advantages of the Guangdong-Hong Kong-Macau Greater Bay Area, Hong Kong is accelerating the consolidation of its global virtual asset hub status.

Comprehensive Services: Perfecting the Virtual Asset Ecosystem

The license approved for Guotai Junan International allows it to provide virtual asset trading services, including offering professional advice during the trading process, as well as issuing and distributing virtual asset-related products, including over-the-counter derivatives. This makes it the first Hong Kong-based Chinese securities firm capable of providing comprehensive virtual asset trading services, with a service range covering brokerage business, consulting services, and product issuance across multiple dimensions.

In fact, Guotai Junan International has already started its layout in the virtual asset field. In 2024, the company launched structured products based on virtual asset spot ETFs and was approved to conduct virtual asset trading platform introduction agency services. In the first half of 2025, the company further obtained permission to distribute tokenized securities to clients and provide related professional advice, while also launching its digital bond issuance business. This license upgrade has achieved a closed-loop layout from product design, trading services to consulting support.

Clients of Guotai Junan International will directly trade mainstream cryptocurrencies and stablecoins through its platform, enjoying seamlessly integrated comprehensive account services. This innovation not only enhances the customer experience but also provides new momentum for the company to attract young investors and solidify its competitive position in the Hong Kong financial market.

Industry analysts believe that in the future, more securities firms with subsidiaries engaged in international business are expected to complete the upgrade to Class 1 licenses, entering the virtual asset trading service field and further improving the ecosystem of the Hong Kong market. Leading securities firms with a strong customer base entering the market will drive the ongoing construction of the cryptocurrency and virtual asset trading ecosystem in Hong Kong.

Globally, traditional financial institutions are entering the virtual asset industry with unprecedented breadth and depth. In the brokerage business, some securities companies have begun to collaborate with virtual asset trading platforms to offer cryptocurrency trading functionalities to their clients. In the asset management sector, several large asset management companies have launched Bitcoin spot ETFs, and institutions in Hong Kong have developed new products such as tokenized currency funds. In the investment banking sector, virtual asset companies are going public one after another, and industry mergers and acquisitions are active, bringing new opportunities to brokerages.

Despite the broad prospects of the virtual asset market, its high volatility also places higher demands on investors. The professional consulting services provided by Guotai Junan International will help clients better understand market dynamics and make rational investment decisions. The company also reminds shareholders and potential investors to act with caution when buying and selling the company's securities.