Guotai Junan becomes the first Chinese brokerage to offer virtual asset trading, with Hong Kong stocks experiencing a big pump of 193% in a single day.

Guotai Junan becomes the first Chinese brokerage firm to offer virtual asset trading, with a single-day big pump of 193%.

According to reports, Cathay Securities, a subsidiary of Cathay Haitong Group, has received approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services. The announcement stated that Cathay Securities will upgrade its existing Type 1 ( securities trading ) license to offer virtual asset trading services under the arrangement of opening a comprehensive account on the SFC licensed platform.

After the license upgrade, customers can directly trade virtual assets such as Bitcoin, Ether and Tether on the Guotai Junan International platform, and Guotai Junan has become the first Chinese securities firm in Hong Kong to provide a full range of virtual asset-related trading services. Guotai Junan's parent company, Guotai Haitong Group, is one of the largest securities firms in the CCP, headquartered in Shanghai. And Guotai Junan ( Hong Kong stock 01788) also soared 193% in a single day after the announcement, opening at 1.42 and closing at 3.64.

Guotai Junan acts as an intermediary, and transactions are still conducted through the compliant exchange Hashkey.

According to the announcement, Guotai Junan can provide virtual asset trading services by opening an integrated account on a platform licensed by the China Securities Regulatory Commission. AB Kuai Dong, a researcher, said that whether it is Guotai Junan or Futubull, the role of entering the currency circle is still an intermediary, and the underlying transaction uses the Hong Kong compliant exchange Hashkey. Basically all traditional brokerages can use the role of intermediaries to enter the currency circle.

But he also added that in Guotai Junan International, users with overseas long-term visas can trade virtual assets. Futubull, on the other hand, must be a Hong Kong or overseas identity document in order to trade virtual assets. Some people complain that people with this identity may as well go directly to Hashkey to open an account, unless A-share shareholders can buy directly, otherwise there is no point.

This article states that Guotai Junan becomes the first Chinese securities firm to provide virtual asset trading, with Hong Kong stocks experiencing a big pump of 193% in a single day, first appearing in Chain News ABMedia.