Gate adds 1K Hong Kong stocks

• Gate has added more than 1,000 Hong Kong-listed stocks to its trading platform, including Tencent, HSBC, Xiaomi and BYD.
• The move expands Gate's offering beyond 10,000 US-listed stocks and exchange-traded funds already available through Gate Stocks.
• Crypto exchanges are increasingly adding traditional financial products as they compete to become broader investment platforms.

Gate, a Cayman Islands-based cryptocurrency exchange, has added more than 1,000 Hong Kong-listed equities to its Gate Stocks platform, giving users access to companies including Tencent Holdings, HSBC Holdings, China Mobile, Xiaomi Corporation, Meituan and BYD Company.

The launch expands Gate's equity offering beyond the more than 10,000 US-listed stocks and exchange-traded funds already available through the platform, covering securities traded on major US exchanges including the NYSE and Nasdaq.

“This launch enhances Gate’s product ecosystem in traditional financial assets,” the company said.

Gate said it plans to expand its list of tradable assets based on market demand and regulatory requirements as it seeks to provide access to pre-listing opportunities, IPO subscriptions and secondary market trading through a single platform.

The expansion reflects a broader trend among cryptocurrency exchanges moving into traditional financial products and tokenised assets, and following the announcement Gate's share price was unchanged at US$0.00.

The company said the addition of Hong Kong stocks supports its goal of becoming a global investment hub for cryptocurrency users by allowing them to manage digital assets and equities through one account.

The strategy mirrors initiatives from Coinbase Global, which has outlined plans to become an "everything exchange", while Binance recently launched US stock trading services and reported more than US$400 million in assets within its first week.