securities

According to Jinshi reports, analysts say that due to the Middle East conflict potentially triggering a demand for immediate liquidity, the dollar strengthened against most currencies during the Asian trading session. Vishnu Varathan, head of macro research at Mizuho Securities, stated that due to the "cash is king" mentality, the dollar may maintain buying advantages, which could be further solidified by the greater disadvantages of the euro and most other non-oil currencies.

Bitfinex Securities has announced an update to its account structure, allowing users to trade tokenized securities without the need to separately open a dedicated securities sub-account. Under the new account structure, security tokens will be natively supported in the main account and standard trading sub-accounts. Previously, new users had to create a separate Bitfinex Securities sub-account before they could start trading. Existing securities sub-accounts will be converted into regular trading sub-accounts, while retaining the original asset segregation, login credentials, two-factor authentication (2FA) settings, and withdrawal permissions. After the update, users will be able to freely transfer security tokens between sub-accounts and the main account, and the related assets will also be displayed alongside other digital assets in the exchange wallet.

According to Jinshi reports, Fed's Schmid stated that the Federal Reserve needs several years to gradually reduce the scale of its mortgage-backed securities holdings.

Binance announces that Ondo tokenized securities products are now live on Binance Alpha. Users can conveniently trade on-chain tokenized securities products through the Binance trading platform, enjoying trading fees as low as 0% and being exempt from Gas fees during a limited time. Each transaction or holding of Ondo tokenized securities can accumulate Binance Alpha points, which can be used to unlock exclusive activities such as airdrops.

According to a report by Hong Kong media Orange News, the President of the Hong Kong Securities and Futures Professionals Association, Chen Zhi-hua, disclosed that the Hong Kong virtual asset industry is facing a sudden "compliance storm." Practitioners in related businesses have reported encountering bewildering regulatory requirements during the application process for virtual asset-related business qualifications. The existing written policy requires an additional 5 hours of Continuing Professional Training (CPT).However, the latest requirements were not issued through formal written documents or public guidelines, but were communicated "quietly" to license upgrade applicants in the form of verbal notifications or individual emails, stating that all responsible officers (RO) for relevant license upgrades, including those who have already obtained upgrade qualifications, must pass a virtual asset regulation exam conducted by a designated single institution. This nearly "invisible" directive undermines the transparency and fairness that regulatory agencies should uphold.Chen Zhi-hua suggested maintaining the original requirement of an additional 5 hours of Continuing Professional Training (CPT) and urged regulatory agencies to immediately suspend the enforcement of exam requirements through invisible policies.

According to the Hong Kong Economic Times, the "HOMEO Shunshi" token has been included in the list of suspicious investment products by the Hong Kong Securities and Futures Commission.The token is operated and promoted by Excellence Homeopathy (Hong Kong), allegedly sold to the public through seminars held in Hong Kong, claiming to bring profits to investors. The Hong Kong Securities and Futures Commission emphasizes that this product has not been approved by the regulatory authority for sale to the public in Hong Kong, and the relevant disclosure documents have not been reviewed by the Commission. The regulatory authority reminds investors to exercise extreme caution, as investing in such unapproved products may result in significant or even total loss of funds.

According to DL News, three Japanese securities giants with a total market capitalization of about $48 billion are considering entering the cryptocurrency trading business, with the largest among them aiming to offer crypto trading services by the end of 2026.According to the Nikkei, Japan's largest securities provider, Nomura Holdings, which manages about $673 billion in client assets, will conduct related business through its Swiss crypto subsidiary, Laser Digital.The report states that the other two companies—Daiwa Securities Group and SMBC Nikko Securities—are also actively considering entering the cryptocurrency trading market. These companies expect that when Tokyo relaxes restrictions on cryptocurrency exchange-traded funds, the demand for crypto investments will surge, and they are therefore preparing in advance. Japanese firms refuse to let the sharp decline in Bitcoin prices derail their crypto adoption plans, anticipating that many digital asset reserves will increase their crypto holdings by 2026.

According to the updated information from the official website of the Hong Kong Securities and Futures Commission, Victory Digital Technology Limited's digital asset trading platform VDX has obtained a license to operate a virtual asset trading platform. The institution is authorized to conduct regulated activities under Type 1 (Securities Trading) and Type 7 (Providing Automated Trading Services). At the same time, its subsidiary VDX Custody Limited has also been licensed under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to provide digital asset custody services. As of now, the number of licensed virtual asset trading platforms in Hong Kong has increased to 12.

The Nasdaq-listed fintech company SOLOWIN HOLDINGS announced that it has reached a securities purchase agreement with Streeterville Capital to secure $100 million in financing. SOLOWIN will issue and sell prepaid shares for Streeterville Capital to purchase, with the first transaction of approximately $5.415 million in prepaid shares already completed. The company plans to use these funds to support its stablecoin and asset tokenization business.SOLOWIN previously disclosed that it will launch a Bitcoin quantitative fund with Antalpha, with a size of up to $100 million, and will employ data-driven algorithmic trading strategies to invest in Bitcoin.

According to Jinshi News, a research report from CITIC Securities indicates that no further rate cuts are expected during Powell's term. The institution believes that under Walsh's chairmanship at the Federal Reserve, the baseline scenario for the second half of the year will involve 1 to 2 rate cuts, each by 25 basis points.Walsh will not significantly cut rates in response to Trump's demands, still basing decisions primarily on economic fundamentals and paying attention to inflation risks, but he is not entirely hawkish.

According to Jinshi News, TD Securities has postponed its prediction for the next Federal Reserve rate cut from March to June, still expecting a total rate cut of 75 basis points this year, bringing the terminal rate down to 3%. The agency anticipates that the Federal Reserve will implement a 25 basis point cut in June, September, and December. TD Securities' Chief U.S. Macro Strategist Oscar Munoz stated that the anticipated policy easing is not due to a deterioration in economic conditions, but rather a result of monetary policy moving towards "normalization" as inflation gradually returns to target levels.

iShares Digital Assets AG announced on Wednesday the issuance of 660,000 new iShares Bitcoin ETP securities under its secured cryptocurrency-linked securities program. This issuance increases the total number of securities in the series from 110,274,328 to 110,934,328, with an issuance price of $6.89 per security. The Bitcoin ETP trades on the London Stock Exchange under the code IB1T and aims to track the performance of Bitcoin.The total expense ratio of the ETP is 0.25% per annum, but a partial fee waiver will be implemented from the series issuance date until December 31, 2026, reducing the rate to 0.15% per annum. These securities are expected to begin trading on the main market of the London Stock Exchange on February 12, 2026.

According to Jinjian News, the Hong Kong Securities and Futures Commission issued new guidelines today, allowing licensed brokers providing virtual asset trading services to expand their service scope to margin financing, and providing guidance for virtual asset trading platforms to assist in formulating leveraged product proposals. This move will encourage margin clients with robust credit conditions and collateral to participate more actively in virtual asset trading, enhancing liquidity in the Hong Kong market.

The Chief Executive Officer of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, stated at the Consensus Hong Kong conference that the regulatory body will release a "high-level framework" allowing licensed trading platforms to offer perpetual contract products. Alder pointed out that these products will initially be open only to institutional investors and not to retail customers.The relevant framework will focus on risk management, requiring platforms to have robust risk control capabilities and ensuring that trading mechanisms are fair to clients. In addition, the Hong Kong SFC will also allow brokers to provide financing services to clients with good credit standing, with collateral including securities and virtual assets. Given the high volatility of virtual assets, initially only Bitcoin (BTC) and Ethereum (ETH) will be eligible as collateral.In terms of market-making activities, if platforms engage in related services, they must establish independent market-making departments and implement strict conflict of interest management mechanisms. Alder stated that these measures continue the SFC's roadmap to promote the development of the local crypto market by 2025, aiming to allow compliant institutions to offer a wider range of products and services.

According to Nikkei News, Japan's Nomura Holdings and Daiwa Securities Group are collaborating with Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group to jointly promote a pilot project for securities trading based on stablecoins, aiming to achieve 24-hour real-time settlement on the blockchain.The project plans to convert assets such as stocks, government bonds, corporate bonds, investment trusts, and ETFs into digital securities. After investors place orders through brokers, transactions will be settled in real-time using yen stablecoins jointly issued by the three major banks, with asset rights simultaneously transferred to the buyer. The experiment is expected to start as early as this month after notifying financial regulatory authorities, and may attract more financial institutions in the future.The project aims to support round-the-clock trading through the tamper-proof characteristics of blockchain, extending trading hours and shortening settlement cycles to invigorate the markets for stocks, bonds, and investment trusts. However, implementation still faces compliance and practical challenges related to broker order verification and other operational processes, and the pilot will focus on identifying and addressing related obstacles.

MicroStrategy stated during a live interview on a Middle Eastern television program that if the company sells credit instruments equivalent to 1.4% of its capital assets, it can pay the MSTR dividend and permanently increase the amount of BTC it holds.

Hong Kong Victory Securities will officially close all virtual currency trading functions for users with Mainland China identities starting from the afternoon of February 9, 2026, retaining only withdrawal permissions and no longer supporting deposits and new transactions. The platform's gradual tightening of services for Mainland users, including the previous prohibition on purchases and the suspension of new address verification, aims to comply with the regulatory requirements of the Hong Kong Securities and Futures Commission and relevant policies in Mainland China.Currently, non-Mainland tax resident users can still use cryptocurrency trading services normally, and affected users can continue to withdraw their assets.

Mark T. Uyeda, a commissioner of the U.S. Securities and Exchange Commission (SEC), delivered a speech at the 2026 Asset Management Derivatives Forum, highlighting the progress of the implementation of Treasury clearing rules and the development of tokenization in the securities market.The SEC has approved the registration of two new clearing agencies, CME Securities Clearing and ICE Clear Credit, providing market participants with more clearing options. Data from the Office of Financial Research indicates that if the rules are implemented in the first 8 months of 2025, U.S. global systemically important banks could free up an average of $34.5 billion in balance sheet space.Regarding tokenization, Uyeda stated that the SEC has ceased to use enforcement as the primary means of expressing its views, instead promoting limited scope pilots through regulatory guidance and exemptions. He emphasized that SEC rules should remain technology-neutral, focusing on outcomes rather than processes, while ensuring appropriate investor protection measures.

The Rosen Law Firm, a U.S. investor rights law firm, is investigating potential securities claims on behalf of Balancer (BAL) token investors, alleging that Balancer may have issued misleading business information to the public. This investigation stems from a Bloomberg report on November 3, which indicated that the DeFi protocol Balancer had been attacked, resulting in over $100 million in digital assets being stolen.According to monitoring by security firms PeckShield and Cyvers, the total losses from this incident are approximately $128 million. The Rosen Law Firm is currently preparing to file a class action lawsuit to seek recovery of investors' losses.

Guotai Junan Securities released a research report stating that HashKey HLDGS (03887.HK), as a leading licensed digital asset company in Hong Kong, is initiating coverage with a "Buy" rating and a target price of HKD 10.14.The core logic is based on three points: first, the company holds a full license from the Hong Kong Securities and Futures Commission (SFC) under categories 1/7/9, with a market share exceeding 75% and significant compliance barriers; second, institutional business accounts for 85.5%, with Omnibus client trading volume increasing nearly fivefold, and the proportion of institutional revenue is expected to rise significantly to 68% in H1 2025; third, the development of digital asset ETFs is driving institutional demand, and the company's integrated ecosystem (trading + on-chain services + asset management) creates a competitive advantage.In terms of finance, it is estimated that revenue will reach HKD 782 million, HKD 1.211 billion, and HKD 2.338 billion in 2025-2027, with net profit losses gradually narrowing (HKD -1.084 billion, -0.717 billion, -0.047 billion). Using the PS valuation method and referencing comparable companies like Coinbase, a 12x PS is applied, corresponding to a market value of HKD 28.1 billion.