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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.

By Jamie Crawley
AccessTimeIconNov 24, 2023 at 12:31 p.m. UTC
Updated Mar 8, 2024 at 5:35 p.m. UTC
Hong Kong harbor skyline view into Kowloon
Hong Kong (Ruslan Bardash/Unsplash)
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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.

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    • 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.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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