Bitcoin Contributes 80% In Leading TradeFi Brokerage’s $10 Mln Avg Monthly Turnover

Amid Hong Kong shares’ persistent stoop, Gao Juan, CEO of Victory Securities and Chairman of the Hong Kong Securities Association, is championing a radical technique with Bitcoin to reinvigorate the ailing market. In an unique interview, she underscores the urgency of embracing Bitcoin and advocates for a complete overhaul of conventional practices.

Market Challenges & Bitcoin Adoption

Hong Kong’s securities trade is at a crossroads, grappling with hovering regulatory prices and cutthroat competitors. Meanwhile, Gao Juan contends that the trade’s survival hinges on adapting to rising tendencies, with Bitcoin rising as a beacon of hope.

In a current interview, she proposes a twofold strategy – urging the Hong Kong authorities to align itself with international monetary shifts by decreasing inventory stamp duties and embracing the transformative potential of Bitcoin. In addition, Gao Juan emphasizes that the important thing to unlocking income lies in understanding and adapting to evolving investor preferences.

Notably, in a panorama the place conventional investments face headwinds, she sees high-interest merchandise and digital belongings as avenues to draw and retain buyers. Meanwhile, the decision to decrease inventory stamp duties aligns with international practices, fostering a extra aggressive and enticing buying and selling atmosphere.

Also Read: Bitcoin Whales Reshuffle 14.5K BTC As Price Slips Below $42K, What’s Next In 2024?

Victory Securities’ Strategic Move Into Virtual Assets

Amid market challenges, Victory Securities isn’t merely advocating change however actively embracing it. Notably, the corporate has launched into a journey into digital belongings, permitting skilled buyers to commerce Bitcoin and Ethereum by way of its platform.

Meanwhile, Chen Peiquan, Executive Director of Victory Securities, unveils bold plans for the approaching 12 months, aiming to combine inventory and digital asset platforms. In addition, Chen Peiquan notes that because the introduction of digital belongings, Victory Securities has skilled exponential progress. According to the report, the agency attains a mean month-to-month turnover of $10 million, of which Bitcoin contributes about 80% of the entire worth.

In addition, as the corporate positions itself for the upcoming Bitcoin halving and potential rate of interest cuts, it anticipates a sturdy digital asset market, notably in Bitcoin. Victory Securities goals to evolve right into a one-stop platform, simplifying the funding course of for purchasers and tapping into the burgeoning curiosity in digital belongings.

Meanwhile, regardless of the current stoop amid the vacation pause, the Bitcoin price added practically 150% YTD, buying and selling close to the $42,000 mark.

Also Read: Ark Invest Sells Coinbase (COIN) Shares Ahead Spot Bitcoin ETF, Cathie Wood Bearish?

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Rupam, a seasoned skilled with 3 years within the monetary market, has honed his expertise as a meticulous analysis analyst and insightful journalist. He finds pleasure in exploring the dynamic nuances of the monetary panorama. Currently working as a sub-editor and crypto journalist at Coingape, Rupam’s experience goes past standard boundaries. His contributions embody breaking tales, delving into AI-related developments, offering real-time crypto market updates, and presenting insightful financial information. Rupam’s journey is marked by a ardour for unraveling the intricacies of finance and delivering impactful tales that resonate with a various viewers.

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