Guotai Junan International obtains virtual asset trading license from the Hong Kong Securities Regulatory Commission, becoming the first Chinese securities firm

Guotai Junan International Holdings Limited (1788.HK) became the first Chinese securities firm to obtain a virtual asset trading license from Hong Kong's SFC, enabling it to offer services for cryptocurrencies like Bitcoin, Ethereum, and Tether.
The announcement triggered an 80% surge in Guotai Junan's stock price at market open, with intraday gains exceeding 100%, reflecting strong investor confidence.
Huashan Securities (600155.SH), a major shareholder of Guotai Junan, also saw an 8% intraday rise, signaling market optimism toward virtual asset trading.
Hong Kong's regulatory shift since 2022, including dual licensing for virtual asset platforms and tokenized green bonds, aims to establish the city as a global crypto hub.
The license upgrade allows Guotai Junan to provide end-to-end virtual asset services, including trading, advisory, and product issuance, completing its ecosystem.
Industry analysts predict more securities firms will follow suit, accelerating Hong Kong's integration of traditional finance with the virtual asset market.
Global trends show traditional financial institutions (e.g., BlackRock, Fidelity) expanding into crypto via ETFs, listings, and mergers, despite market volatility risks.
Guotai Junan emphasizes investor caution, offering professional advisory to navigate the high-risk virtual asset landscape.

June 25, 2025, Hong Kong - Guotai Junan International Holdings Limited (stock code: 1788.HK) announced that its wholly-owned subsidiary Guotai Junan Securities (Hong Kong) Co., Ltd. officially obtained the approval of the Hong Kong Securities and Futures Commission (SFC) on June 24 to upgrade the existing Type 1 (Securities Trading) regulated activity license to provide virtual asset trading services. This marks Guotai Junan International as the first Chinese brokerage firm approved to provide a full range of virtual asset trading services in Hong Kong, opening up a convenient channel for its customers to directly trade mainstream cryptocurrencies and stablecoins such as Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).

The market responded enthusiastically as soon as the news was released. Guotai Junan International's Hong Kong stock price soared by more than 80% at the opening, and the highest intraday increase once exceeded 100%, fully reflecting investors' strong confidence in this strategic breakthrough.

Driven by this, the share price of Huashan Securities (600155.SH), which holds 67.6 million shares of Guotai Junan International, also rose, with the intraday increase once exceeding 8%, showing the market's broad optimism about the virtual asset trading field.

Milestones: Strategic Background of Hong Kong’s Virtual Asset Market

The license upgrade of Guotai Junan International is an important manifestation of Hong Kong's active strategy to build a global virtual asset core hub. After taking a cautious regulatory stance in 2017, Hong Kong issued the "Hong Kong Virtual Asset Development Policy Declaration" in 2022, clearly proposing the strategic goal of building an Asian crypto asset center. In recent years, Hong Kong has established a digital asset regulatory framework that encourages innovation and risk prevention through a series of measures such as regulating virtual asset trading platforms through a dual licensing mechanism, issuing the world's first government-backed tokenized green bond, and approving Asia's first batch of virtual asset spot ETFs.

In February 2025, the Hong Kong Securities and Futures Commission issued "ASPI-Re: A Roadmap for the Supervision of Hong Kong's Virtual Asset Market", further clarifying the policy direction of supporting the development of the virtual asset market. In May, the passage of the Stablecoin Bill was seen as a key step for Hong Kong to integrate into the global digital asset ecosystem, laying the foundation for its advantage in cross-border payments and currency internationalization competition.

In this context, Guotai Junan International's breakthrough 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 orientation and deeply participating in the virtual asset industry. CITIC Securities analysis pointed out that relying on the innovation synergy and open market advantages of the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong is accelerating the consolidation of its position as a global virtual asset hub, and traditional financial institutions are adapting to the trend of cryptocurrency integration into the financial ecosystem by strengthening license layout and business expansion.

Comprehensive services: improving the virtual asset ecosystem

The license granted to Guotai Junan International not only allows it to provide virtual asset trading services, but also includes providing professional advice during the transaction process, as well as issuing and distributing virtual asset related products including over-the-counter derivatives. This makes it the first Chinese brokerage firm in Hong Kong that can provide a full range of virtual asset trading services, covering brokerage business, consulting services and product issuance.

In fact, Guotai Junan International has already started its layout in the field of virtual assets. In 2024, the company took the lead in launching structured products based on virtual asset spot ETFs, and was approved to carry out virtual asset trading platform introduction agent business. In the first half of 2025, the company further obtained the license of the Hong Kong Securities and Futures Commission to distribute tokenized securities to customers and provide relevant professional advice, and at the same time launched the digital bond issuance business. This license upgrade has put together a key link in the ecological chain of the virtual asset business, realizing a closed-loop layout from product design, trading services to consulting support.

Guotai Junan International's customers will be able to directly trade mainstream cryptocurrencies such as Bitcoin and Ethereum, as well as stablecoins such as Tether, through its platform, and enjoy seamlessly integrated comprehensive account services. This innovation not only enhances customer experience, but also provides new momentum for the company to attract young investors and consolidate its competitive position in the Hong Kong financial market.

Guotai Junan International's successful license acquisition has attracted widespread attention in the industry. Huachuang Non-Bank Analysis believes that in the future, more securities firms with international business subsidiaries are expected to complete the upgrade of Category 1 licenses and enter the field of virtual asset trading services, further improving the Hong Kong market ecology. The entry of leading securities firms with a strong customer base will promote the continuous construction of Hong Kong's cryptocurrency and virtual asset trading ecology.

Globally, traditional financial institutions are entering the virtual asset industry with unprecedented breadth and depth. In the brokerage business, the cooperation between Futu Securities and HashKey Exchange, and Interactive Brokers and OSL Group have opened up cryptocurrency trading functions for customers. In the asset management field, giants such as BlackRock and Fidelity have launched Bitcoin spot ETFs, and Hong Kong institutions such as Bosera International and Harvest International have also developed new products such as tokenized money funds. In terms of investment banking business, virtual asset companies such as Coinbase and Circle have been listed one after another, and industry mergers and acquisitions are active, bringing new opportunities for securities companies.

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