Hong Kong’s Victory Securities to Offer Digital Asset Services in Retail Markets
Hong Kong’s investment management firm, Victory Securities has obtained approval to offer digital asset services to retail clients expanding the country’s number of cryptocurrency licences.
In a Nov 24 press release, the company made the announcement that it obtained a license from the Securities and Futures Commission (SFC) to offer digital asset services adding that this development makes it the first licensed corporation to offer those associated services to clients.
“Victory Securities… which has been rooted in Hong Kong for 50 years, has made significant progress in the field of virtual assets and became the first company in Hong Kong to obtain approval from the Hong Kong Securities and Futures Commission (“SFC”) to provide retail investors with A licensed corporation for virtual asset trading and advisory services.”
According to the statement, Victory Securities will integrate virtual assets with the traditional finance ecosystem and allow retail clients to participate in the model getting and trading assets seamlessly.
The company also hailed the commitment of the Hong Kong authority as it sets itself to become the destination of the International Virtual Asset Center.
Seeking to connect both branches of finance, the firm wants to create a platform where users can flexibly allocate assets and offer investment advice to retail users including periodic research reports.
In line with modern regulatory requirements to provide adequate information on products and assess user knowledge before they can invest, the company wrote that it would focus on investor education, and research and will continue to partner with regulatory agencies.
Victory Securities now joins the rank of firms with retail crypto licenses in Hong Kong.
