Approval by Hong Kong SFC
In a landmark move on November 24, Victory Securities, a prominent Hong Kong-based securities firm, announced its official approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading and consulting services. This approval marks a significant step for the firm and the broader virtual asset market in Hong Kong.
A First for Hong Kong
The firm’s executive director, Chen Peiquan, highlighted this achievement as a first in the region. Victory Securities is now the first licensed corporation in Hong Kong authorized to offer virtual asset services to retail investors. This development is not only a milestone for the company but also for the virtual asset industry in Hong Kong.
Rising Interest in Virtual Assets
Reflecting on the growing traction of virtual assets, Peiquan pointed out the surge in virtual asset transactions and new customer sign-ups in the recent quarter. The figures have more than tripled compared to the previous quarter, indicating a rapidly growing interest in this sector.
Commitment to Investor Education
Alongside its trading and consulting services, Victory Securities is committed to investor education. The firm plans to publish research reports and provide investment advice specifically tailored to virtual assets. This initiative aims to enhance investor understanding and confidence in this emerging market.
Hong Kong’s Evolving Financial Landscape
The SFC’s revised list of approved entities, now available on its official website, includes seven companies actively seeking licenses for cryptocurrency trading platforms in Hong Kong. Among them, OKX stands out as the first offshore exchange to submit a compliance license application in the jurisdiction.