June 27, 2025
By Our Correspondent
After Hong Kong’s securities regulator authorized Guotai Junan International Holdings as the first subsidiary of a mainland-based business to provide trading services for virtual assets, such as cryptocurrencies and stablecoins, the company’s shares almost tripled in value.
The Hong Kong-based subsidiary of Guotai Haitong Securities, a financial services company with its headquarters in Shanghai, GTJAI [HK: 1788], rose 198 percent to HKD3.70 (US 50 cents) today in Hong Kong, representing a 249 percent advance so far this year.
Earlier today, GTJAI reported that the Securities and Futures Commission of Hong Kong has authorized the company’s transition from a securities trading license to one that includes virtual asset trading services. The new services also include trading guidance and the issuance and distribution of items relating to virtual assets, such as over-the-counter derivatives.
This action makes it possible for GTJAI to join Hong Kong’s cryptocurrency market, which is frequently seen as a conduit between international markets and the Chinese mainland.
Hong Kong has been working to standardize its laws pertaining to cryptocurrency.
All service providers must get an SFC license under the Anti-Money Laundering and Counter-Terrorist funding Ordinance, which was put into effect in June 2023 as part of the SAR’s virtual asset licensing regime. This legislation was created to combat money laundering and terrorist funding. Additionally, the SAR has strengthened its rules regarding tokenization and stablecoins.
A growing number of organizations, such as brokerages, Web 3.0 businesses, and virtual asset exchanges, are joining this new industry.
Nearly 40 brokerage firms, including a division of Singapore-based Tiger Brokers, a subsidiary of Hong Kong-based Futu Securities, and Thousand Whales Technology, the local operator of the xWhale virtual asset trading platform, have currently upgraded their licenses to provide virtual asset trading services in Hong Kong.
The parent firm was also boosted by GTJAI’s increase. In Shanghai, Guotai Haitong Securities [SHA: 601211] closed at CNY20.29 (USD2.80) today, up 9.1%.
