Source: Media Outreach
HONG KONG SAR – Media OutReach – 7 November 2022 – On 10 October 2022, the Securities and Futures Commission (SFC) granted consent for a full range of trading and advisory activities as specified in the “Joint Circular on Intermediaries’ Virtual Asset-related Activities” for the first time. The story of Victory Securities becoming the first financial group to obtain both a virtual asset trading and an advisory license by the SFC has been the talk of the town. Hong Kong’s Financial Secretary, Paul Chan, recently published an article stating that Hong Kong is determined to compete with Singapore, London, New York, and other cities for the position of the Global Crypto Financial Center and Virtual Asset Center. Issuing licenses to Victory has sparked this competition.
As a financial group rooted in Hong Kong for 50 years, Victory Securities recognized the value of virtual assets as early as 2019. The emergence of virtual assets, a new asset class of the most incredible potential in a century, seems inevitable. Because Victory Securities understands that virtual assets require effective supervision to prosper, it has prepared early for this situation. Adam Zhou, managing director of Victory Securities, said, “In recent years, virtual assets have been undergoing rapid development. But the lack of supervision and investor protection has deterred many investors.” Given this, Victory Securities strives to provide safe and reliable services in the virtual asset market. In light of Victory Securities’ acquisition of the virtual asset trading license, it can provide customers with virtual asset brokerage services and help them purchase virtual asset-related funds or thematic ETFs.
Victory Securities also hopes that virtual asset advisory license can drive the development of the industry. Zhou added, “Our professional team has researched and analyzed the top 50 virtual assets, such as Bitcoin and Ethereum. Soon we will publish the first professional virtual asset research report in Hong Kong.”
Having one of the world’s highest concentrations of institutional and professional investors, Hong Kong has a sound regulatory system and investment environment, which makes Hong Kong an indisputably ideal place to develop a virtual asset business. The issuance of the license to Victory Securities represents not only an important milestone in Hong Kong’s virtual asset market but also the first step in promoting Hong Kong’s vision of becoming an international virtual asset center. Zhou said, “Victory Securities has been rooted in Hong Kong for over 50 years. We offer extensive financial experience and a deep understanding of what individual and institutional investors need. Our virtual asset trading and advisory services licenses enable us to offer institutional-level services for virtual asset investment in addition to our original comprehensive financial services. We will continue to contribute to the future of digital finance in Hong Kong and shape the global financial services ecosystem.”
For more information about investment opportunities in global stock markets, please visit Victory Securities’ website at www.victorysec.com.hk.
Hashtag: #VictorySecurities
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
