The Hong Kong Securities and Futures Commission announced that starting from June 1, when Hong Kong's virtual asset platform licensing system begins, all virtual business companies operating in Hong Kong will need to obtain a Hong Kong Securities and Futures Commission license, and individual investors will be allowed to buy and sell cryptocurrencies.

This is definitely a major positive. On the one hand, it shows that Hong Kong, as an international financial center, is indeed gaining momentum. It also indirectly shows that the mainland is quietly making strategic arrangements for cryptocurrencies. Hong Kong will serve as a bridge for innovation in the financialization of virtual assets between the mainland and overseas, attracting more projects, personnel and assets to innovate in this region.

Just focus on key currencies to reduce operation and decision-making costs

KEY

SelfKey is a blockchain-based identity platform built on Ethereum. It aims to enable individuals and businesses to have full ownership of their data, documents and digital assets.

SelfKey is building a technology where your data is no longer held by companies and institutions, but by you in your digital wallet. It also offers a marketplace that is available and popular in mainland China.

KEY - The utility token of the SelfKey ecosystem is used to pay for services within the market. It has a low market cap of only $40 million, with 88% of tokens in circulation. It is listed on Binance, Kraken, KuCoin and Gate.io, as well as Uniswap.

LINA

Linear Finance is a Hong Kong-based cross-chain protocol that allows users to quickly create, trade, and manage synthetic assets cost-effectively.

Synthetic assets are tokenized derivatives. Derivatives are contracts whose value is derived from an underlying asset, such as a stock, currency, or cryptocurrency.

Tokenization means that the Synth creates a blockchain record of the relationship between the underlying asset and the purchaser.

Linear Finance essentially allows users to trade synthetic assets quickly and cheaply across different chains.

LINA — Linear Finance’s native token — is used for staking and governance. It has a market cap of $57 million, with half of its tokens in circulation, and Linear’s token issuance schedule lasts until the end of 2025. It is listed on Binance and KuCoin, as well as PancakeSwap, Uniswap, and SushiSwap.

HIGH

Highstreet is a commerce-focused game-earning metaverse that supports VR. It includes shopping, cryptocurrency, social, gaming, and NFTs in multiplayer RPGs.

Users can earn the native token HIGH by completing tasks, participating in events, and purchasing NFTs of real-world brands.

HIGH is also used to access certain parts of the game, as an in-game currency for purchasing NFTs, and for governance.

It has a market cap of $70 million, 36% of tokens in circulation, and a relatively linear vesting schedule that runs until the end of 2029.

It is listed on Binance, KuCoin, Coinbase, and Gate.io, as well as Uniswap and PancakeSwap.

Highstreet, which counts Binance and Hong Kong-based Animoca Brands among its partners, has previously attracted widespread attention in the Chinese market.

BUT

Founded in Singapore in 2018, Alchemy Pay is an institutional-focused hybrid payment system that enables both online and offline companies to accept both fiat and cryptocurrencies.

Alchemy Pay is supported by 2 million merchants in over 70 countries, thanks to partnerships with industry leaders such as Binance, Shopify, NIUM, and QFPay.

Its native token ACH is used to pay transaction fees, access Alchemy Pay services, ecosystem rewards, and governance. It has a market cap of $165 million and 62% of its tokens are in circulation. It is listed on Binance, Coinbase, KuCoin, and Kraken.

CFX

Conflux Network is a layer 1 blockchain that powers dApps and Web 3 infrastructure by being more scalable, decentralized, and secure than existing protocols. It enables the quick and efficient transfer of assets with low transaction costs.

Conflux is considered the only compliant public blockchain in China.

The platform’s native token, CFX, is used as a reward for miners and to incentivize users, as well as for staking and governance.

It has a market cap of $900 million and an unrestricted supply. It is listed on Binance, KuCoin, OKX, and Gate.io.

Summarize

The Hong Kong Securities and Futures Commission has now gone a step further and announced that it will ease access to crypto trading for retail users. Some of the relevant altcoins have already surged in recent days, but there may be more upside potential before June 1. Remember not to chase the rise, wait for a retracement and retest of major support levels before investing.

Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.