Victory Securities: Hong Kong Firm Wins Retail Crypto Trading License

• Victory Securities Granted Approval for Crypto Services in Hong Kong
• Victory Securities Joins Crypto-Native Firms HashKey Exchange and OSL Digital Securities
• Hong Kong's Progressive Crypto Regulatory Stance
• Looking Ahead: Tokenized Securities-Related Activities in Hong Kong

Victory Securities Granted Approval for Crypto Services in Hong Kong

The Hong Kong-based investment firm, Victory Securities (8540), has received approval from the Securities and Futures Commission (SFC) to provide crypto services to retail clients. The firm announced this achievement on Friday, claiming a first for licensed corporations in the provision of crypto trading and advisory services to retail investors.

Victory Securities Joins Crypto-Native Firms HashKey Exchange and OSL Digital Securities

Victory Securities will share the crypto space with HashKey Exchange and OSL Digital Securities, both of which are crypto-native firms. This step forward symbolizes the eastward shift of the cryptocurrency market as Asian jurisdictions provide clearer regulatory guidelines than those available in other areas such as the U.S.

Hong Kong's Progressive Crypto Regulatory Stance

Earlier this year, Hong Kong implemented a regulatory framework that allows for crypto services to be offered to retail investors. Currently, the SFC's directory of virtual asset trading firms includes Victory Securities as an applicant. Regrettably, CoinDesk's outreach to the SFC for further details did not yield a response at the time of article publication.

Looking Ahead: Tokenized Securities-Related Activities in Hong Kong

In a bid to further drive blockchain adoption, Hong Kong is also considering permitting certain tokenized securities-related activities. This move demonstrates the jurisdiction's commitment to promoting and integrating digital assets into its financial ecosystem.

Edited by Jonathan Stoker