Guotai Junan International has recently been approved by the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to provide virtual asset trading services and provide opinions on the basis of providing virtual asset trading services.

After the license upgrade, customers will be able to directly trade virtual assets such as cryptocurrencies (such as Bitcoin, Ethereum, etc.) and stablecoins (such as Tether, etc.) on the Guotai Junan International platform.

So far, Guotai Junan International has become the first Hong Kong-based Chinese brokerage firm that can provide a full range of virtual asset-related trading services, covering the provision of virtual asset trading services, providing opinions during virtual asset trading services, and issuing and distributing virtual asset-related products including over-the-counter derivatives.

Guotai Junan International has pointed out the direction for other brokerages. I believe that in the near future, more brokerages will apply for Hong Kong virtual asset trading licenses.