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Hong Kong Investment Firm Victory Securities Obtains Retail Crypto Trading License

The publicly traded company joins crypto-native firms HashKey Exchange and OSL Digital Securities with a license.

Updated Mar 8, 2024, 5:35 p.m. Published Nov 24, 2023, 12:31 p.m.
16:9 crop Hong Kong harbor view
16:9 crop Hong Kong harbor view

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

Jamie Crawley

Jamie joined CoinDesk as a news reporter in February 2021 after writing widely about crypto and blockchain for two years in other roles. Away from crypto, Jamie runs a lot and loves all things sport. He holds small amounts of BTC, ETH, ADA and LTC.

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