- Gao Juan, the President of the Hong Kong Securities Association, advocates an unconventional approach involving Bitcoin
to revitalize the struggling market.
- Gao Juan emphasizes that understanding evolving investor preferences and adapting to them is the key to unlocking revenue.
- Victory Securities, not only defending against market challenges but actively embracing them.
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Gao Juan, President of the Hong Kong Securities Association, discussed the Bitcoin market in a recent interview.
Views on Bitcoin in Hong Kong
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Amidst the continuous decline of Hong Kong exchanges, Gao Juan, CEO of Victory Securities and President of the Hong Kong Securities Association, advocates an unconventional approach involving Bitcoin to revitalize the struggling market. In a private interview, he highlights the necessity for a comprehensive overhaul in traditional practices and points out Bitcoin as a beacon of hope in this struggling market.
The securities industry in Hong Kong is at an impasse, grappling with rising regulatory costs and fierce competition. In the midst of this, Gao Juan argues that the survival of the industry depends on adapting to emerging trends, such as Bitcoin, which has emerged as a beacon of hope in this struggling market.
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In a recent interview, Gao Juan proposes a two-pronged approach, urging the Hong Kong government to reduce stock stamp duties to keep pace with global financial changes and embrace the transformative potential of Bitcoin. Additionally, Gao Juan emphasizes that the key to unlocking revenue is understanding evolving investor preferences and adapting to them.
Especially in an environment where traditional investments face challenges, he sees high-yield products and virtual assets as opportunities to attract and retain investors. The call to reduce stock stamp duties is in line with global practices that encourage a more competitive and attractive trading environment.
Victory Securities’ Strategic Transition to Virtual Assets
Victory Securities not only defends against market challenges but actively embraces them. The company has ventured into virtual assets, allowing professional investors to trade Bitcoin and Ethereum on its platform. Meanwhile, Chen Peiquan, the Executive Director of Victory Securities, reveals ambitious plans for the coming year, aiming to integrate stock and virtual asset platforms.
Chen Peiquan also notes that Victory Securities has experienced significant growth since the introduction of virtual assets. According to reports, the firm achieves an average monthly trading volume of $10 million, with about 80% of it contributing to the total value of Bitcoin. Meanwhile, despite the recent dip during the holidays, the price of Bitcoin, with nearly a 150% increase since the beginning of the year (YTD), is trading around $42,200.