Gao Juan, the chairman of the Hong Kong Securities Association and CEO of Victory Securities, is promoting a novel approach using Bitcoin to revive the faltering market in the midst of the ongoing decline in Hong Kong equities. She stresses the importance of adopting Bitcoin in an exclusive interview and calls for a thorough revision of conventional wisdom.
Market Difficulties & Acceptance of Bitcoin
The securities market in Hong Kong is facing unprecedented challenges due to fierce competition and rising regulatory expenses. Gao Juan, on the other hand, argues that the industry’s ability to survive depends on its ability to adjust to new trends, with Bitcoin standing out as one potential possibility.
In a recent interview, she puts forward a two-pronged strategy, calling on the Hong Kong government to embrace the revolutionary potential of Bitcoin and to align itself with global financial developments by lowering stock stamp charges. Furthermore, Gao Juan highlights that recognizing and adjusting to changing investor preferences is essential to releasing revenue.
Notably, she views high-interest products and virtual assets as ways to draw in and keep investors in a market when traditional investments face challenges. In the meantime, the demand for reduced stock stamp levies is consistent with international norms and promotes a more favorable and competitive business climate.
The Strategic Entry of Victory Securities Into Virtual Assets
Victory Securities is actively embracing change in the face of market obstacles, rather than just pushing for it. The company has made a significant move into the virtual asset space by enabling experienced investors to trade Ethereum and Bitcoin via its platform.
In the meantime, Victory Securities Executive Director Chen Peiquan unveiled bold plans for the upcoming year that include integrating stock and virtual asset platforms. Chen Peiquan also points out that Victory Securities has grown at an exponential rate since the launch of virtual assets. The study states that the company generates an average monthly turnover of $10 million, with almost 80% of the entire value coming from Bitcoin.
Additionally, the business expects a healthy virtual asset market, especially for Bitcoin, as it braces itself for the impending halving of the value of Bitcoin and prospective interest rate reductions. In order to better serve clients and capitalize on the growing interest in virtual assets, Victory Securities wants to develop into a one-stop shop.