TF International Securities Group Ltd is seeking regulatory approval to offer a wide range of virtual asset-linked services in Hong Kong and kick-start growth outside the traditional brokerage business, a person familiar with the matter said.

The firm, a wholly owned unit of Shanghai-listed Tianfeng Securities Co, recently applied to the Hong Kong Special Administrative Region’s Securities & Futures Commission to provide virtual asset in/out services, enabling investors to deposit and withdraw cryptocurrencies rather than traditional currencies when dealing in virtual assets, said the person, who asked not to be named discussing a private matter.

READ MORE: HK to expand crypto offerings with derivatives trading for investors

The firm also applied to the SFC for approval to help clients issue and underwrite tokenized real world assets, according to the person. The brokerage is in talks with a few firms to explore the sale of such tokenized assets in areas including green energy and intellectual property, with underlying assets mainly in funds and bond products.

A TF International spokesperson didn’t immediately respond to a comment request. The SFC wasn’t immediately available to comment.

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Tianfeng Securities disclosed last Friday that the Hong Kong unit got SFC approval to offer virtual asset trading services, causing an almost 8 percent surge in its Shanghai-listed shares.

The HKSAR has pushed hard to make itself into a crypto hub, providing licenses for dozens of securities firms for virtual asset dealing services under an omnibus account arrangement.

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Their interest has spurred several stock rallies as the hype builds. Guotai Junan International Holdings Ltd soared 167 percent last week after announcing the firm had got license update to enable clients directly trade virtual assets on its platform.