Bitcoin Dominance: Fueling 80% Of TradeFi Brokerage’s $10 Million Monthly Surge

Amid a prolonged downturn in Hong Kong stocks, Gao Juan, CEO of Victory Securities and Chairman of the Hong Kong Securities Association, is promoting an innovative approach involving Bitcoin to breathe new life into the struggling market. In a privileged interview, she emphasizes the pressing need to adopt Bitcoin and calls for a thorough revamp of conventional practices.

The securities sector in Hong Kong finds itself at a critical juncture, contending with escalating regulatory expenses and intense market competition. Amidst these challenges, Gao Juan asserts that the industry’s viability depends on its ability to align with emerging trends, with Bitcoin standing out as a promising catalyst.

In a recent interview, she puts forth a dual-pronged strategy, urging the Hong Kong government to align with global financial changes by lowering stock stamp duties and embracing the transformative capabilities of Bitcoin. Additionally, Gao Juan underscores that unlocking revenue hinges on comprehending and adjusting to evolving investor preferences.

Significantly, within a backdrop where conventional investments encounter challenges, she perceives high-interest products and virtual assets as channels to entice and maintain investors. Simultaneously, advocating for reducing stock stamp duties aligns with international norms, cultivating a more competitive and appealing trading environment.

Bitcoin Soaring Impact: Victory Securities Achieves $10 Million Monthly Turnover

In the face of market challenges, Victory Securities promotes and actively embraces change. Notably, the company has initiated a foray into virtual assets, enabling professional investors to engage in Bitcoin and Ethereum trading through its platform.

Meanwhile, Chen Peiquan, Executive Director of Victory Securities, reveals ambitious plans for the upcoming year to integrate stock and virtual asset platforms seamlessly. Chen Peiquan highlights the remarkable growth experienced by Victory Securities since the introduction of virtual assets. According to reports, the firm achieves an average monthly turnover of $10 million, with Bitcoin contributing approximately 80% of the total value.

Additionally, as the company positions itself for the forthcoming Bitcoin halving and potential interest rate cuts, it foresees a robust virtual asset market, especially in Bitcoin. Victory Securities aims to transform into a comprehensive one-stop platform, streamlining the investment process for clients and capitalizing on the growing interest in virtual assets.

Despite the recent market downturn during the holiday pause, Bitcoin’s price has surged by nearly 150% year-to-date, trading close to the $42,000 mark.

Related Reading | BlackRock Bitcoin ETF Drive Gains Momentum

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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