TradFi Enters Digital Asset: New Opportunities Arise in the Hong Kong Market

Recently, the Hong Kong digital asset market has undergone significant changes. A well-known Chinese brokerage firm has obtained a full license for virtual assets, sparking heated discussions in the market. The company's stock price surged by 466% within just three trading days, demonstrating investors' strong confidence in the prospects of digital assets.

Subsequently, multiple securities firms completed the upgrade of License No. 1 in succession, further boosting market enthusiasm. At the same time, the Hong Kong SAR government released the "Hong Kong Digital Asset Development Policy Declaration 2.0," providing policy support for the development of the digital asset ecosystem. This marks a key milestone in the formal entry of the Hong Kong capital market into the digital asset era.

Hong Kong is actively building a complete digital asset ecosystem. In May of this year, the Legislative Council passed the "Stablecoin Regulation Bill," becoming the world's first comprehensive regulatory framework for fiat-backed stablecoins. The Hong Kong Securities and Futures Commission has also accelerated the implementation of the licensing system, with 41 companies successfully upgrading to the Type 1 license. These policies and market trends have triggered a positive response from investors, with related Hong Kong stock prices generally surging.

However, not all brokerages can stand out in this wave. Early layout and compliance awareness are key factors for success. Some forward-looking brokerages began to lay out virtual asset businesses as early as 2024, including conducting brokerage services for related products, issuing and distributing businesses, and introducing agents for trading platforms, etc. These companies have advantages in terms of technological strength, customer base, and risk control systems.

Industry experts point out that this license upgrade has a demonstration effect on the Hong Kong subsidiaries of mainland securities firms and is expected to accelerate the development process of related businesses. Against the backdrop of weak growth in traditional businesses, digital asset operations are becoming a key growth engine for securities firms seeking transformation breakthroughs.

However, after the market boom, rational thinking is equally important. As more institutions obtain licenses, scarcity will gradually disappear. From "obtaining qualifications" to "operating well", from "policy-driven" to "ability-driven", the entire industry is entering a deeper reshuffling period.

Digital assets are not short-term speculation in the capital markets, but rather a deep involvement in the reconstruction of the global financial order. Institutions that can achieve long-term success in this field must possess strong compliance awareness, technological strength, customer base, and risk control capabilities. Only those participants who can leave behind a robust structure after the bubble will truly define the standards for the next generation of financial platforms.