Guotai Junan International Initiates Crypto Trading Services in Hong Kong

Guotai Junan International has launched cryptocurrency trading services in Hong Kong, approved on June 24 by the Securities and Futures Commission, allowing trading in BTC, ETH, AVAX, LINK, and more.

The move marks significant institutional support for crypto in Hong Kong, leading to an over 80% surge in Guotai Junan’s stock, affecting related equity markets.

Guotai Junan’s Cryptocurrency Trading Debut Boosts Shares 80%

Guotai Junan International’s crypto trading service was officially launched after gaining approval from Hong Kong’s financial authorities. The platform supports trading for cryptocurrencies like Bitcoin, Ethereum, and others for professional investors.

The firm announced plans to expand digital asset services, which include advisory solutions alongside trading capabilities. This move is aligned with Hong Kong’s ambitions to become a leading virtual asset hub.

This milestone empowers us to offer digital asset trading services and transaction-based advisory solutions, unlocking end-to-end capabilities across trading, custody, derivatives distribution, and issuance of digital assets,” Guotai Junan International, Corporate Statement.

Market reaction was swift. Following the announcement, Guotai Junan’s share price increased by over 80%, with a peak of more than 100% intraday. This rise reflects investor optimism toward the firm’s strategic expansion.

Potential for Institutional Adoption Amid Regulatory Changes

Did you know? Although Guotai Junan’s stock surged over 80%, similar market enthusiasm was noted when CMB International introduced its crypto services earlier in the summer. Historically, such launches have significantly boosted market confidence.

Based on data from CoinMarketCap, Bitcoin’s current market cap is valued at 2,253,905,004,351. Despite a recent 2.13% price increase, the cryptocurrency faced a 4.79% decline over the past 30 days.

The Coincu research team suggests that Hong Kong’s evolving crypto regulatory environment could pave the way for more institutional adoption and integration of digital assets. This situation is closely monitored by regulators and investors alike.