In a Nov. 24 announcement, Victory Securities becomes the first licensed corporation in Hong Kong to offer virtual asset trading and consulting services to retail investors
The Hong Kong-based securities firm, Victory Securities, has announced that it has obtained official approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading and consulting services to retail investors. This makes them the first licensed corporation in Hong Kong to offer such services to retail investors. Chen Peiquan, the firm’s executive director, stated that this development reflects the increasing interest in virtual assets, with transactions and new customers in the third quarter of this year more than tripling compared to the previous quarter.
Victory Securities commits to providing investment advice, research reports, and investor education on virtual assets
As part of their announcement, Victory Securities expressed their commitment to offering investment advice on virtual assets, publishing relevant research reports, and focusing on investor education to enhance understanding among investors. This highlights their dedication to providing comprehensive support and guidance in the virtual asset space. The revised list of approved entities for cryptocurrency trading platforms in Hong Kong is now available on the SFC’s official website. Among the seven companies actively pursuing licenses, OKX has become the first offshore exchange to formally submit a compliance license application within the jurisdiction.
Hot Take: Victory Securities secures official approval for virtual asset services in Hong Kong
Hong Kong-based securities firm Victory Securities has made history by becoming the first licensed corporation in Hong Kong authorized to offer virtual asset trading and consulting services to retail investors. With growing interest in virtual assets, as evidenced by increased transactions and new customers, Victory Securities is well-positioned to cater to this expanding market. Their commitment to providing investment advice, research reports, and investor education further demonstrates their dedication to supporting investors in understanding virtual assets. This development also highlights the evolving landscape of cryptocurrency trading platforms in Hong Kong, with OKX leading the way as the first offshore exchange to apply for a compliance license.
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