Hong Kong-listed financial services company Victory Securities has received approval from Hong Kong’s securities regulator to manage investment funds that comprise up to 100% virtual assets.
The approval comes after Victory Securities became the first licensed corporation to be permitted to provide the full spectrum of virtual asset dealing and advisory services in Hong Kong last October.
Victory Securities has now been granted the go-ahead from the Securities and Futures Commission to launch two cryptocurrency tracker funds.
This approval makes Victory Securities the only licensed corporation in Hong Kong with the necessary regulatory approvals to provide virtual asset-related distribution, advisory and asset management services pursuant to its SFC licenses to conduct Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activities.
“We are very excited to reach another milestone and we look forward to providing a full range of virtual asset related services and products to our clients in the coming days,” said Kennix Chan, executive director of Victory Securities.