ChainCatcher news, according to reports, digital bank ZA Bank has announced that its virtual asset trading service has entered the sandbox testing phase. The bank stated that this innovative service aims to allow eligible retail investors in Hong Kong to enjoy a safer, more reliable, and convenient virtual asset trading experience in a strictly regulated banking environment, further promoting the development of fintech in Hong Kong.

ChainCatcher news, Hong Kong listed company Nanhua Financial announced that its subsidiary Nanhua Securities has upgraded its business license for Type 1 regulated activities. This upgrade enables Nanhua Securities to provide virtual asset trading services to professional investors in Hong Kong.

ChainCatcher news, HashKey Group's Chief Operating Officer Livio Weng stated in an interview with the 21st Century Business Herald that the virtual asset trading services of various virtual banks have not yet launched and are still awaiting approval from the Hong Kong Monetary Authority. It is expected that the first virtual bank will be approved within the next quarter.In addition to virtual asset ETF trading, these banks also plan to expand their cryptocurrency product lines, including collaborating with virtual asset exchanges to provide users with direct purchasing and trading services for crypto assets. Livio Weng also pointed out that the development of Hong Kong virtual banks in the field of virtual asset trading faces some challenges. The regulatory framework for virtual assets by the Hong Kong Monetary Authority is still being refined, so each virtual bank needs to closely monitor regulatory developments to ensure the compliance of their operations and transactions.

ChainCatcher news, the board of Guofu Innovation Co., Ltd. announced that its wholly-owned subsidiary, Fuqiang Securities Co., Ltd., has obtained the approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading services to professional investors. Guofu Innovation stated that this move will expand the customer base, offer more diversified services, bring new revenue growth points, and promote the synergy among various business segments of the group, contributing to the achievement of long-term development goals.

ChainCatcher news, according to a report by the Financial界, Guofu Innovation (00290.HK) announced that its wholly-owned subsidiary, Fuqiang Securities Limited, has obtained approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services to professional investor clients through the operation of a comprehensive account established and maintained on the SFC licensed platform, subject to the terms and conditions set by the SFC.

ChainCatcher news, according to East Network reports, the internet brokerage Futu Securities has upgraded its Type 1 regulated activity (securities trading) license from the Hong Kong Securities and Futures Commission, allowing it to provide virtual asset trading services to professional and retail investors in Hong Kong.Futu launched a brand new integrated account feature last Saturday (6th), allowing investors to trade investment products across multiple markets such as Hong Kong stocks, US stocks, A-share connect, and Japanese stocks through a single account, and has announced that it will gradually introduce Singapore stocks, Australian stocks, Canadian stocks, etc., but has not yet disclosed a specific timeline.

ChainCatcher news, Tiger Brokers (Hong Kong) announced that following the earlier opening of virtual asset trading services to professional investors in Hong Kong, it has now officially expanded this service to retail investors in Hong Kong with the approval of the Hong Kong Securities and Futures Commission.Currently, retail investors across Hong Kong can invest through Tiger Brokers' flagship platform Tiger Trade, offering a one-stop trading experience that includes Bitcoin (BTC) and Ethereum (ETH), as well as various global assets such as stocks, options, futures, U.S. Treasury bonds, and funds, allowing for seamless allocation and management of virtual assets and traditional financial assets.Previous news, Tiger Brokers (Hong Kong) officially launched virtual asset trading services, which were initially available only to professional investors.

ChainCatcher news, according to reports from Huigang Communications, Tiger Brokers (Hong Kong) has officially launched virtual asset trading services, becoming one of the first technology brokers in Hong Kong to support a platform for managing traditional securities as well as virtual assets. Currently, professional investors in Hong Kong can invest through Tiger Brokers' flagship platform, Tiger Trade, with a cost-effective one-stop trading solution that includes 18 virtual assets such as Bitcoin (BTC) and Ethereum (ETH), as well as various global assets like stocks, options, futures, U.S. Treasury bonds, and funds, without the need to open and manage different accounts across various brokers and platforms.Tiger Brokers will offer competitive trading rates. The commission for virtual asset trading is as low as 0.2% of the transaction amount, and custody fees are waived. Through the user-friendly interface of Tiger Trade, registered users in Hong Kong can also view real-time quotes and price change rankings for virtual assets, keeping up with the virtual asset market anytime and anywhere. Additionally, Hong Kong dollars and U.S. dollars can be exchanged instantly on a T+0 basis within the Tiger Trade App.Currently, Tiger's virtual asset trading services are only available to professional investors. Eligible users, specifically Hong Kong residents with a portfolio exceeding 8 million HKD or corporations with assets exceeding 40 million HKD, can submit professional investor information in the Tiger Trade APP, complete the investor education required by the Securities and Futures Commission, and sign the agreement to participate in virtual asset trading. In the future, subject to regulatory requirements, Tiger Brokers plans to extend virtual asset trading services to retail investors. Furthermore, the company will also consider adding virtual asset spot deposit services.

ChainCatcher news, Hong Kong's ZA Bank announced plans to launch virtual asset trading services for retail investors. By collaborating with local licensed virtual asset exchanges, ZA Bank will seek regulatory approval to enable retail investors to buy and sell virtual assets using fiat currency through the ZA Bank App.According to reports, ZA Bank stated that as a licensed bank in Hong Kong, it will adhere to strict customer safety and regulatory compliance standards. After obtaining the necessary regulatory approval for virtual asset trading services, ZA Bank will work with third-party vendors to implement higher security guidelines and comply with stringent anti-money laundering (AML) and know your customer (KYC) regulations. In addition, ZA Bank will provide user education regarding the characteristics and risks associated with virtual asset trading. (Source link)

ChainCatcher news, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Xu Zhengyu, recently published an article titled "The Hong Kong SAR Government's Policy Declaration Pragmatically Promotes the Development of Virtual Assets."The article points out that the Hong Kong Financial Services and the Treasury Bureau has recently been working to establish a licensing system for virtual asset service providers. Under the new system, virtual asset exchanges will be required to comply with regulations related to anti-money laundering, counter-terrorist financing, and investor protection, just like traditional financial institutions. This will help licensed virtual asset exchanges build credibility, allowing them to reach more investors in the Hong Kong market. In addition, financial intermediaries and banks will be able to collaborate with licensed counterparts from the virtual asset sector and provide virtual asset trading services to clients, subject to relevant regulatory conditions. (Source link)