Hong Kong Investment Firm Victory Securities Obtains Retail Crypto Trading License

Hong Kong investment firm Victory Securities (8540) has won approval from the Securities and Futures Commission (SFC) to offer crypto services to retail clients.

In an announcement on Friday, Victory Securities said it is the first licensed corporation to offer a crypto trading and advisory service to retail investors. It joins crypto-native firms HashKey Exchange and OSL Digital Securities.

Hong Kong introduced a regulatory regime permitting the offering of crypto services to retail investors earlier this year, in a sign of the cryptocurrency market shifting eastward as Asian jurisdictions offer greater clarity to companies than they may find elsewhere, such as in the U.S.

The SFC's list of virtual asset trading firms currently has Victory as an applicant. CoinDesk reached out to the SFC for clarity, but had not received a response by press time.

Read More: Hong Kong Will Allow Some Tokenized Securities-Related Activities

Edited by Sheldon Reback.