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 Affiliation, 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. In the meantime, Gao Juan contends that the trade’s survival hinges on adapting to rising developments, 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. As well as, 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 property as avenues to draw and retain traders. In the meantime, the decision to decrease inventory stamp duties aligns with international practices, fostering a extra aggressive and enticing buying and selling setting.

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

Victory Securities’ Strategic Transfer Into Digital Property

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

In the meantime, Chen Peiquan, Govt Director of Victory Securities, unveils bold plans for the approaching 12 months, aiming to combine inventory and digital asset platforms. As well as, Chen Peiquan notes that for the reason that introduction of digital property, Victory Securities has skilled exponential progress. In response to the report, the agency attains a mean month-to-month turnover of $10 million, of which Bitcoin contributes about 80% of the whole worth.

As well as, 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 property.

In the meantime, 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.

Additionally Learn: 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 abilities as a meticulous analysis analyst and insightful journalist. He finds pleasure in exploring the dynamic nuances of the monetary panorama. At the moment working as a sub-editor and crypto journalist at Coingape, Rupam’s experience goes past typical 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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