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Hong Kong Securities Firm Launches Crypto Trading, Boosting Bullish Narrative in China's SAR

Hong Kong-based securities firm Quam Securities has announced the launch of cryptocurrency trading services on its platform, becoming the first Hong Kong-based securities firm to do so. The move is seen as a boost to Hong Kong's initiative to emerge as a crypto hub in Asia.

While many banking institutions have raised concerns about money laundering and have delayed onboarding crypto clients, the securities firm has opened its doors to crypto trading. The firm successfully completed its first virtual asset transaction on HashKey PRO through the Hong Kong Quam Securities APP early on Saturday.

The firm's roll-out of crypto trading is aligned with the Hong Kong government's efforts to welcome licensed crypto entities and make operations smoother for virtual asset firms. This marks the availability of a virtual asset trading solution to brokerages in China's Special Administrative Region (SAR).

Quam Securities has also included real-time market support for 50 order prices alongside the crypto trading services. The move is expected to garner appreciation from the Hong Kong-based crypto community of traders.

As Hong Kong continues to push forward its crypto narrative, the move by Quam Securities signals a bullish outlook for crypto adoption in China's SAR.

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