And introduced to be the primary and solely brokerage agency approved token-in-token-out
With the expiry of the licensing software interval of the Hong Kong Securities and Futures Fee (SFC)’s regulatory regime for digital asset buying and selling platforms on the finish of February, the digital asset business in Hong Kong will probably be totally regulated, offering buyers with safety for his or her digital property and transactions. As a number one digital asset licensed company in Hong Kong, Victory was the primary to be granted the related licenses for digital asset enterprise (No. 1 (Digital Asset Buying and selling), No. 4 (Digital Asset Advisory Providers) and No. 9 (Digital Asset Administration Providers) final 12 months. As early as a 12 months in the past, Victory has already established a it’s personal R&D Workforce, and spent tens of tens of millions Hong Kong {dollars} to develop its personal buying and selling app – VictoryX. Victory hopes to guide buyers from the Internet 2.0 conventional monetary companies, by means of its easy operation course of to simply allocate Internet 3.0 property. Each the cell app and desktop buying and selling system have been totally upgraded to offer buying and selling companies in main markets comparable to digital property, Hong Kong shares, US shares, and so on., and can quickly be expanded to incorporate China Join and International Inventory Markets, to help shoppers seize market alternatives and international asset allocation seamlessly and in actual time.
Victory Securities participated within the Web3 Competition from April 6 to 9, and was the one licensed company that present commerce securities and digital asset buying and selling companies on the identical time and related digital asset buying and selling to a number of exchanges. Shoppers have been invited to check out the APP on-site and the response was overwhelming, with over 1,000 account opening enquiries acquired. On April tenth, Victory Securities held one other APP launch get together to announce the official launch of its securities and digital asset buying and selling APP VictoryX. In the meantime, Victory Securities introduced that it has been authorized by the Securities and Futures Fee (SFC) to permit the deposit and withdrawal digital asset, making it the primary and the one broker-dealer to offer such service in Hong Kong.
VictoryX is designed to handle the ache factors of conventional monetary buyers by fixing the issue of difficult operations confronted by newcomers to the digital asset market prior to now. As an alternative of getting to discover a OTC retailer, they’ll immediately open an account and deposit funds for buying and selling, which is a one-stop course of that may be completed on-line, and on the identical time, their property might be safeguarded. Victory has additionally teamed up with a number one worldwide digital property info media to offer buyers with the most recent information on the digital property market, fixing the issue of scattered info out there prior to now. The launch of the cell buying and selling software combining securities and digital property is a small step for Victory Securities to enter the digital asset market. Sooner or later, Victory will proceed to enhance its capabilities and attempt to offer extra diversified funding merchandise with fintech and Internet 3.0 elements.
Mr. Kennix Chan, Government Director of Victory Securities, stated on the app launch get together, “Lately, buyers’ demand for a safe and complex buying and selling platforms has been on the rise, so Victory Securities has invested tens of tens of millions of {dollars} to create a market-unique securities and digital asset buying and selling app, which, along with the approval from the Securities and Futures Fee to permit Victory to offer token-in-token-out companies to shoppers, is anticipated to be a good better success for Victory Securities within the digital property area. The profitable improvement of the APP by our in-house R&D group isn’t solely an enormous step ahead for Victory Securities in Fintech space, but in addition signifies that the native licensed company has the braveness to innovate within the midst of adversity, and is heading in direction of the objective of turning into essentially the most influential digital asset broker-dealer in Hong Kong and even within the Asia Pacific area,” stated Mr. Chan.
Victory Securities is now actively growing digital asset-related funding merchandise and expertise options, such because the BTC Cycle Fund launched earlier and the ETF and Algo buying and selling system deliberate to be launched, that are focused at totally different ranges of buyers. Victory Fintech Firm Restricted (VDX), an organization wherein Victory has a stake, has additionally taken the lead in forming an expert group since 2020, specializing within the improvement of digital asset Change with a view to develop a complete ecological format for the Web3 business for retail buyers, skilled buyers and enterprises.
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About Victory Securities
Victory Securities (inventory code: 8540.HK), with over 50 years of historical past, is a complete full-licensed securities agency licensed by the Securities and Futures Fee, with regulated actions below Sort 1, Sort 2, Sort 4, Sort 6, and Sort 9. Traders can get pleasure from Victory Securities’ complete monetary companies, together with Hong Kong and international securities buying and selling, first and second market securities financing, company financing (capital markets and bond capital markets), wealth administration in varied fields. In 2023, Victory Securities grew to become the primary and presently solely licensed entity in Hong Kong to carry digital asset buying and selling, advisory, and asset administration service licenses issued by the Securities and Futures Fee.