Hong Kong is considering approving new cryptocurrency and virtual assets products as derivatives and margin lending for certain investors in those products, according to the city's financial regulator.

Securities and Futures Commission chief executive Julia Leung Fung-yee said on Wednesday the plans were being assessed as Hong Kong tries to make itself a regional digital assets hub and expand its services to investors.

"We are considering derivative products for professional investors, margin lending for certain customers," Leung told Coindesk's Consensus Hong Kong 2025 conference, referring to digital assets.

Hong Kong's financial secretary Paul Chan Mo-po on Wednesday said the city's regulators have issued nine digital asset trading platform licences, and Leung said there are eight more applications being considered.

The government is also working to advance the regulation of stable coin, Chan said.

Hong Kong first drew up a plan to become a virtual asset hub in 2022 - an effort that followed Beijing's sweeping ban on all crypto transactions in mainland China the previous year.

It has since launched the first spot crypto exchange-traded funds in Asia as well as other initiatives.

Singapore and Dubai are also aiming to become global hubs for virtual assets.

The price of bitcoin more than doubled last year. It hit an all time high of US$109,071 (HK$850,753) on January 20 this year, the day of Donald Trump's inauguration, but has since pulled back to stand around US$96,000.

REUTERS

The securities watchdog will announce the roadmap today afternoon. Photo by SING TAO

Hong Kong eyes crypto derivatives, margin lending in digital asset push