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Guotai Junan Securities: The virtual asset business model may provide a reference for Chinese securities firms. The securities zone has double-click potential.
On August 4th, Guosen Securities released a research report stating that the model of a certain trading platform's layout for virtual asset-related businesses has certain reference significance for Chinese-funded brokerages entering related businesses. Obtaining relevant licenses in a Compliance context, advancing asset on-chain, and exploring PFOF business forms may enhance its profitability. Combined with the brokerage zone's own PB-ROE valuation paradigm, given the current rapid development speed of RWA, the brokerage zone still has double-click potential, maintaining an "outperforming the market" rating for the industry.