The Hong Kong Securities and Futures Commission (SFC) has released two new circulars allowing licensed virtual asset trading platform operators to integrate trading instructions with affiliated overseas platforms into a shared order book. The guidelines also permit these operators to offer virtual assets without a 12-month track record to professional investors and stablecoins licensed by the Hong Kong Monetary Authority. Additionally, tokenized securities and digital asset-related investment products can be sold. Furthermore, affiliated entities of platform operators are authorized to provide custody services for virtual assets or tokenized securities not traded on the respective platforms.