Leading the Charge: Eddid Financial’s Two-Year Journey into Digital Assets and the Emerging RWA Frontier

In a move that has sparked widespread industry discussion, a major mainland Chinese brokerage recently received approval from the Hong Kong Securities and Futures Commission (SFC) to uplift its license and enter the digital asset market. However, the SFC’s licensing upgrade framework has been in place since 2023, and several brokers have already taken advantage of it. These early movers have built comprehensive digital finance ecosystems, positioning themselves as influential players in the evolving market.

Among the first to secure an uplifted license was Eddid Financial’s subsidiary, Eddid Securities and Futures, in September 2023. Over the past year, the firm has made significant progress in expanding its virtual asset business. Today, Eddid Financial is not only advancing in digital asset trading and market-making but also actively exploring Real World Asset (RWA) services. By offering tailored solutions to retail investors, professional clients, and corporates, the firm is injecting fresh energy into the market.

First-Mover Advantage in the Digital Asset Market

Obtaining an uplifted license from the SFC is more than a regulatory milestone — it’s a strategic gateway to broader market opportunities.

In 2024, Hong Kong launched the world’s first spot Ether ETFs and Asia’s first spot Bitcoin ETFs. Eddid Securities and Futures was one of the few participating dealers of all these ETFs, assisting with their creation and redemption in the global primary market while ensuring smooth and efficient transactions. The firm also became one of the first in Hong Kong to offer in-kind subscription and redemption, allowing investors to use Bitcoin or Ether to subscribe to or redeem these ETFs. This innovation significantly enhanced market flexibility and liquidity. Additionally, the firm was among the first brokers in Hong Kong to introduce margin financing for virtual asset spot ETFs, a service that enables clients to pledge ETF holdings as collateral, boosting capital efficiency and portfolio agility.

Dr. Ricky Yeung, Head of Virtual Assets at Eddid Financial, commented: “As one of the first licensed brokers, we not only have a responsibility to develop the market but also aim to set a benchmark for Hong Kong’s digital asset industry through innovation and compliance.”

Strategic Alliances and Technological Strength Bolster Digital Asset Market

Over the past year, Eddid Financial has actively promoted the popularization of cryptocurrency trading through strategic partnerships with licensed platforms including HashKey Exchange and EXIO Limited. These alliances have enabled the firm to provide uninterrupted liquidity across market cycles. Central to its operations is a resilient technology infrastructure that has significantly enhanced trading efficiency and contributed to greater market depth.

Breakthroughs in Market-Making and Stablecoin Applications

In May 2025, Hong Kong’s Legislative Council passed the Stablecoin Bill, providing a clear regulatory framework for the stablecoin market. Eddid Financial responded swiftly, collaborating with prominent industry partners to explore the use of stablecoins in settlement and cross-border payments. These efforts reinforce Hong Kong’s ambition to remain a leading global financial centre.

Dr. Yeung noted, “Stablecoins are not just a key component of the digital asset market, they’re also a critical bridge between traditional finance and the digital economy. We believe stablecoins will drive the globalization of the digital economy.”

Exploring RWA: Bridging Digital Assets and Traditional Finance

Building on its success in the digitalasset market, Eddid Financial is now turning its attention to Real World Assets (RWA). By tokenizing traditional assets such as real estate and bonds and integrating them into blockchain infrastructure, RWA unlocks new dimensions for digital finance.

The SFC’s “A-S-P-I-Re” roadmap and the Policy Statement 2.0 on the Development of Digital Assets declared by HK Government emphasizes sustainable liquidity as a cornerstone for the development of the digital asset market. In line with this vision, Eddid Financial plans to launch RWA products, including real estate, bonds, and other physical assets, offering both distribution and market-making services.

Dr. Yeung remarked, “The integration of digital asset market-making with RWA services will be a key driver of innovation and sustainable growth in Hong Kong’s financial markets. This strategy not only broadens investors’ asset allocation options but also enhances overall market efficiency and risk management.”

Looking Ahead: A Global Vision for Hong Kong’s Digital Asset Market

As a full-service financial group, Eddid Financial’s strategy aligns closely with Hong Kong’s push to regulate and internationalize the digital asset market. Looking ahead, the Group plans to continue integrating financial technology, fostering collaboration with industry partners, and driving the integration of digital and traditional financial systems. These efforts aim to ensure Hong Kong remains a leader in the global digital asset landscape.

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Leading the Charge: Eddid Financial’s Two-Year Journey into Digital Assets and the Emerging RWA Frontier