In a Nov. 24 announcement, the Hong Kong-based securities firm Victory Securities has shared the news that it has secured official approval from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset trading and consulting services to retail investors. 

According to the firm’s executive director, Chen Peiquan, this makes it the first licensed corporation in Hong Kong to be given permission to offer such services to retail investors.

Peiquan says these developments highlight growing interest in virtual assets, noting in the announcement that “the amount of virtual asset transactions and the number of new customers in the third quarter of this year more than tripled from the previous quarter.”

As part of the announcement, the company expressed its commitment to providing investment advice on virtual assets, publishing relevant research reports, and focusing on investor education that aims to enhance understanding of virtual assets among investors. 

Hong Kong’s revised of approved entities is now available on the SFC’s official website.

It features the names of seven companies actively pursuing licenses to operate cryptocurrency trading platforms in Hong Kong. One of them, OKX, has emerged as the first offshore exchange to formally submit a compliance license application within the jurisdiction.

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Author: Sarah Jansen

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