Yunfeng Financial Raises HK$1.17 Billion to Launch Virtual Asset Trading in Hong Kong
Yunfeng Financial, backed by Jack Ma, completed a HK$1.17 billion share placement to support system upgrades, talent acquisition and capital reserves needed to launch comprehensive virtual asset trading and investment management services. Following its recent SFC license upgrade, the firm will offer virtual asset trading on its licensed platform in Hong Kong. The capital injection cements Yunfeng Financial’s entry into Hong Kong’s Web3 ecosystem and aligns with the government’s push to build a regulated digital asset hub. Policy support for tokenization and stablecoins such as USDT and USDC underpins the license economy framework. This move signals robust growth prospects for Hong Kong’s digital assets market and may spur more institutions to seek virtual asset trading licenses.
Bullish
The successful HK$1.17 billion fundraising and SFC license upgrade demonstrate strong institutional confidence in virtual asset trading in Hong Kong. This capital boost will enhance infrastructure and service capacity, attract liquidity and spur market participation. Coupled with clear government policies on tokenization and stablecoins, the news is likely to drive short-term trading activity and support long-term market growth, reinforcing a bullish outlook for the Hong Kong digital assets sector.