In a groundbreaking move, Victory Securities has secured approval from the Hong Kong Securities and Futures Commission (SFC) to provide virtual asset trading and consulting services to retail investors. This marks a historic moment, as it is the first time a traditional securities company in Hong Kong has received authorization to offer cryptocurrency trading to the broader retail market.

Integration of Virtual Assets into Traditional Finance

With over fifty years of establishment in the Hong Kong securities market, Victory Securities has positioned itself at the forefront of the virtual asset revolution. This approval from the SFC not only signifies a significant milestone for the company but also represents a pivotal moment in Hong Kong’s financial history.

The decision by Victory Securities to engage in virtual asset trading for retail investors is a bold step toward integrating virtual assets into the traditional financial system. It provides retail investors with a compliant and protected avenue to participate in the burgeoning world of cryptocurrency trading.

Hong Kong’s Ambition as a Global Virtual Asset Hub

This move aligns with Hong Kong’s broader ambition to establish itself as a global hub for virtual assets. By allowing traditional securities firms to participate in the cryptocurrency space, Hong Kong aims to showcase its commitment to innovation and financial inclusivity. The approval granted to Victory Securities signals a new chapter in the development of Hong Kong’s virtual asset trading ecosystem.

Mr. Chen Peiquan, Executive Director of Victory Securities, expressed his enthusiasm about this milestone. He highlighted that the recognition by the China Securities Regulatory Commission cements Victory Securities’ position as a trailblazer in the virtual asset space. The company’s recent achievements, including multiple ‘firsts’ in virtual asset trading and consultation, reflect its pioneering spirit and operational expertise in this sector.

Growing Demand for Virtual Asset Services

According to the company’s data, there has been a significant surge in virtual asset transactions and new customer registrations, indicating a robust demand for virtual asset trading services. To capitalize on this momentum, Victory Securities plans to introduce incentives for new customers and launch an integrated solution that seamlessly blends virtual assets and securities services.

Bridging Traditional Finance and Virtual Assets

Victory Securities aims to go beyond merely opening new trading avenues. The company seeks to create a synergy between traditional finance and virtual assets, allowing customers to diversify their portfolios in a flexible and convenient manner. The commitment to providing sound investment advice on virtual assets and disseminating relevant research reports demonstrates a focus on investor education.

The company’s dedication to investor education is crucial for enhancing understanding and promoting the adoption of virtual asset investment. Victory Securities plans to work closely with regulatory agencies to foster a stable, safe, and sustainable virtual asset trading environment in Hong Kong.

In 2023, Victory Securities achieved another milestone by becoming the first and only licensed financial group in Hong Kong to simultaneously obtain virtual asset trading, consulting, and asset management service licenses from the SFC. Additionally, it launched Hong Kong’s first compliant virtual asset trading application for professional investors, solidifying its leadership in this domain.

Setting a Precedent for Financial Institutions

As Victory Securities embarks on this new journey, it sets a precedent for other financial institutions in Hong Kong and beyond. The company’s foray into virtual asset trading and consulting for retail investors is a testament to its innovative spirit and its commitment to expanding the horizons of financial services.

This development is not just a win for Victory Securities; it is a victory for the evolving landscape of finance, where traditional and digital realms converge to create new opportunities for investors worldwide. The company’s success underscores the dynamic nature of the financial industry and the increasing acceptance of virtual assets as a legitimate and integral part of the global economy.