The Hong Kong stock market is witnessing a new wave of momentum driven by dual forces: the "MicroStrategy approach" to corporate crypto adoption and comprehensive cryptocurrency service offerings from traditional financial institutions.
Traditional Investment Giant Enters Crypto Arena
Guotai Junan International, a subsidiary of the newly merged Guotai Haitong Securities mega-brokerage, saw its shares skyrocket up to 190% on June 25 following regulatory approval to launch virtual asset trading services. This makes it the first Chinese-backed securities firm in Hong Kong to receive comprehensive virtual asset trading license upgrades from the Securities and Futures Commission (SFC).
Key developments include:
- License upgrade allowing trading of major cryptocurrencies (BTC, ETH) and stablecoins
- Tokenization focus on structured notes, funds, and digital bonds
- Web3 integration bridging traditional securities with blockchain settlement
Two Paths to Crypto Adoption: HashKey vs. Guotai Junan
HashKey Exchange (Web3-Native Approach)
- Retail-focused spot trading for BTC/ETH
- Integrated banking channels (ZA Bank, Standard Chartered)
- OTC services and institutional custody solutions
- Emphasizes decentralized finance compatibility
Guotai Junan International (Traditional Finance Path)
- Acts as tokenization investment bank
- Specializes in securities-grade asset digitization
- Provides blockchain-based settlement for traditional instruments
- Targets institutional investors with regulated products
The "Crypto-Equity" Boom in Hong Kong Markets
Recent catalysts accelerating adoption:
- Stablecoin Regulation: The Stablecoin Ordinance takes effect August 1, with initial issuers including JD CoinChain and Standard Chartered consortium
Corporate Treasury Moves: Public companies accumulating crypto assets:
- Boyaa Interactive holds 3,351 BTC (+100% stock price 2025)
- BlueCity Holdings maintains $880M in BTC/ETH reserves
Infrastructure Growth: Companies like OSL Group and OKG Technology gaining traction in:
- Blockchain analytics
- Digital asset custody
- Institutional-grade trading platforms
👉 Explore Hong Kong's Web3 regulatory framework
FAQ: Understanding Hong Kong's Crypto-Equity Trend
Q: How does Guotai Junan's approval differ from crypto exchanges?
A: It represents traditional finance embracing blockchain for securities settlement rather than operating as a pure crypto exchange.
Q: What's driving Hong Kong-listed companies to hold cryptocurrencies?
A: Combination of treasury diversification strategies and positive price correlation with crypto market movements.
Q: Are stablecoin-related stocks a good investment?
A: While companies like JD.com saw bumps from stablecoin news, long-term value depends on actual adoption and revenue models.
Q: How sustainable is the current crypto-equity rally?
A: Market cycles suggest volatility, but institutional participation through firms like Guotai Junan indicates structural growth.
👉 Latest updates on Hong Kong's virtual asset policies
The convergence of traditional finance and Web3 technologies is reshaping investment landscapes, with Hong Kong emerging as a testing ground for hybrid financial innovation. As more firms tokenize assets and integrate blockchain solutions, this trend may redefine capital markets globally.