Victory Securities plans to launch approved virtual asset-structured products in Hong Kong, expanding investment opportunities for professional investors.
By Temitope Olatunji
Edited by Julia Sakovich
Updated
3 mins read
Victory Securities, a virtual asset broker based in Hong Kong, has announced its plans to launch products to further establish its position as a leader in the industry. Subject to receiving the green light from the Securities and Futures Commission, Victory Securities plans to roll out the first-ever virtual asset-structured products approved for distribution to professional investors in Hong Kong by the end of 2024.
The company noted that these products will allow investors to receive high potential returns, manage their risks, and even achieve diverse investment objectives, depending on the market conditions. Also, as a broker, Victory Securities will enable clients to earn stable returns on their stablecoins through new products and services, which are expected to launch by the end of this year, in addition to their current ability to subscribe to money market funds via the VictoryX app.
The Executive Director of Victory Securities, Kennix Chan, stated that there aren’t enough options for government-regulated strategic investment products, particularly in the virtual asset investment market. Kennix further commented that the permission given to the company is a crucial step for Hong Kong’s virtual asset industry. He said:
“The regulatory green light for Victory Securities to market virtual asset-structured products signifies an important step forward for Hong Kong to build a comprehensive virtual asset ecosystem. As a pioneer in Hong Kong’s virtual asset industry, Victory Securities will continue to strive to introduce unique and innovative investment products to facilitate our clients in building their diversified investment portfolio and capturing profit opportunities under different market conditions.”
Victory Securities is the first licensed broker granted permission to allow customers to withdraw and deposit cryptocurrencies and stablecoins through Victory’s omnibus account. These launches are part of the firm’s efforts to build out Hong Kong’s virtual asset ecosystem. The company promises to keep connecting traditional finance with the virtual asset space and, at the same time, offer investors more investment opportunities. Victory Securities remarked:
As the digital asset market continues to grow, Victory Securities has actively promoted industry innovation and has successively launched new investment instruments and strategic investment products. Victory Securities will continue to act as the bridge between traditional finance and the virtual asset space and offer new investment opportunities for investors in a compliant environment.
The executive director for intermediaries at the Securities and Futures Commission, Eric Yip, stated last week that the Hong Kong SFC plans to license crypto exchanges and grant them full licenses to operate by the end of the year. Furthermore, a consultation panel will be established for licensed exchanges to maintain cooperation efforts.
With these developments, Victory Securities is poised to play a major role in shaping the future of virtual assets in Hong Kong, offering innovative solutions that meet the needs of professional investors.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
