As a seasoned researcher with a deep-rooted interest in the dynamic world of finance and technology, I find myself thoroughly intrigued by the strategic moves made by Victory Securities. Having closely followed the evolution of virtual assets and their integration into traditional financial systems, I can confidently say that this latest development is a significant leap forward for Hong Kong’s virtual asset ecosystem.
Based in Hong Kong, the virtual asset brokerage firm, Victory Securities, has disclosed its intentions to introduce new products aimed at strengthening its dominance within the industry. Pending approval from the Securities and Futures Commission, Victory Securities hopes to debut the first-ever approved virtual asset-backed investment products for experienced investors in Hong Kong by the end of 2024.
The business emphasized that these offerings could provide investors with substantial profits, risk management, and various investment goals based on market fluctuations. Moreover, as a broker, Victory Securities plans to let clients gain consistent income from their stablecoins using upcoming products and services, scheduled for release by the year’s end. Additionally, users can already subscribe to money market funds through the VictoryX app.
Kennix Chan, as Executive Director of Victory Securities, expressed a lack of sufficient government-controlled investment strategies, specifically within the digital asset investment sector. Chan emphasized that this authorization granted to their company is a significant milestone for Hong Kong’s virtual asset industry. In his words:
Victory Securities has received approval to offer virtual asset-based financial products, marking a significant advancement in Hong Kong’s efforts to establish a complete virtual asset infrastructure. As a trailblazer in the region’s virtual asset sector, Victory Securities plans to keep innovating and introducing distinctive investment options to help clients diversify their portfolios and seize profit chances under various market situations.
A Step Forward for Hong Kong’s Virtual Asset Ecosystem
WinSecurities becomes the initial broker licensed to facilitate cryptocurrency and stablecoin deposits and withdrawals via their omnibus account. These developments are part of the company’s strategy to expand Hong Kong’s digital asset market infrastructure. WinSecurities aims to bridge the gap between traditional finance and the virtual asset realm, while simultaneously expanding investment options for investors. WinSecurities stated:
With the escalating expansion of the digital assets sector, Victory Securities is actively championing advancements within the industry. They have introduced an array of innovative investment tools and strategic financial products step by step. Moving forward, Victory Securities aims to serve as a conduit between conventional finance and the virtual asset world, providing investors with fresh investment avenues in a regulatory-compliant setting.
Last week, Eric Yip, head of intermediaries at the Securities and Futures Commission in Hong Kong, announced that they aim to issue licenses to cryptocurrency exchanges, allowing them to fully operate by the year’s end. Additionally, a consultation panel will be created for licensed exchanges to foster ongoing collaboration.
With these advancements, Victory Securities stands ready to significantly influence the future development of digital assets within Hong Kong. They provide cutting-edge solutions tailored to the requirements of professional investors.
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2024-11-04 16:33