Hong Kong’s SFC Unveils Plan to Integrate Crypto Markets with Global Liquidity
Hong Kong is positioning itself as a leader in digital asset regulation with a groundbreaking initiative to connect local crypto markets with global liquidity pools. The Securities and Futures Commission (SFC) revealed its ASPIRe roadmap during FinTech Week 2025, marking a strategic shift from closed-loop trading to internationally integrated platforms.
Licensed VIRTUAL Asset Trading Platforms (VATPs) will now be permitted to share order books with overseas counterparts, a move designed to enhance market efficiency and price discovery. This regulatory evolution allows for tighter spreads and increased trading volume while maintaining robust oversight—effectively bridging the gap between traditional finance and digital assets.
The framework extends to stablecoins and tokenized securities, creating a comprehensive ecosystem for institutional participation. By aligning crypto markets with conventional financial standards, Hong Kong aims to set a new benchmark for scalable, trusted digital asset infrastructure globally.