This file photo dated Nov 29, 2015 shows a branch of Guotai Junan Securities Co Ltd in Shanghai, China. (PHOTO / IC)Guotai Junan International’s subsidiary, Guotai Junan Securities (Hong Kong), has become the first Chinese mainland brokerage in the Hong Kong Special Administrative Region to win approval for providing virtual asset trading services.
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The company said on Wednesday that the city’s Securities and Futures Commission gave the nod on Tuesday, upgrading the firm’s Type 1 license for dealing in securities to provide virtual asset dealing services under an omnibus account arrangement with SFC-licensed platforms.
With the upgraded license, investors can gain access to trading in major digital currencies, including Bitcoin, Ethereum and stablecoins through Guotai Junan Securities’ services.
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The announcement sparked a rally in Guotai Junan International’s shares, which surged by more than 120 percent to over HK$2.7 ($2.47) on Wednesday.
Contact the writer at irisli@chinadailyhk.com
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