HK Crypto Market Split: Traditional Finance vs Crypto Natives
Di HK crypto market dey go through clear split for 2025. Pass 40 brokers, 35 fund firms and 10 big banks don launch virtual asset services, with Futu daily trading volume pass $35 million. At d same time, early Crypto Native companies like HashKey and OSL dey feel their culture dey dissolve under compliance pressure. Now, three cultures dey coexist: Crypto Natives wey value decentralization; internet finance players like Futu, Ant Group and JD wey dey bring tech-driven user growth; and traditional banks (HSBC, BOC Hong Kong) wey dey use decades of financial expertise. New stablecoin law with KYC and VPN restrictions don spark Native concern about regulatory overreach. Meanwhile, lawyers, banks and “water-seller” service providers dey see booming demand. This cultural fusion dey create opportunities for liquidity and institutional support but also tension about innovation speed for Hong Kong crypto ecosystem wey dey evolve.
Neutral
Di report say over 85 financial institutions dem enter HK crypto market mean say liquidity and institutional backing strong well—things wey historically dey relate to market stability and small small price increase, as e show wen U.S. asset managers begin use Bitcoin. But at di same time, di exit of Crypto Natives and wahala about new stablecoin law mean say innovation fit slow down. Short-term, traders fit benefit from deeper order books and regulated products, wey go boost confidence. Long-term, compliance wahala fit stop new DeFi strategies or new token launches. Dis forces wey dey oppose each other—more institutional participation versus regulatory cultural tension—mean say overall market impact go stay neutral.