Victory

Read

Victory Securities will be the first licensed Hong Kong crypto broker to launch cash-settled virtual asset structured products to professional investors.
In a <a href="https://www.victorysec.com.hk/en/article/correspondences/read/hkva_2newproducts" target="_blank" rel="noopener noreferrer nofollow">press release</a> published on Nov. 4, <a rel="noopener noreferrer nofollow" href="https://crypto.news/victory-securities-gains-approval-by-hong-kong-sfc/">Victory Securities</a> announced its plans to launch virtual asset structured products for professional investors by the end of this year.
The firm received approval from the <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/sfc/">Securities and Futures Commission</a> to promote and sell cash-settled <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/digital-assets/">virtual asset</a> structured products to investors, making Victory the first licensed broker in <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/hong-kong/">Hong Kong</a> to offer such products.
Virtual asset structured products grant investors the possibility to achieve higher returns, depending on specific market conditions. They will also be able to manage risks related to market volatility and virtual asset structured products.
Last year, Victory Securities shared the news that it secured approval from the Hong Kong SFC to offer virtual asset trading and consulting services to retail investors.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/victory-securities-gains-approval-by-hong-kong-sfc/"> Victory Securities gains approval by Hong Kong SFC </a>
Additionally, Victory will also start offering designated products and services to <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/stablecoin/">stablecoin</a> holders through the broker’s account to earn relatively stable returns through certain products and services.
Previously, clients can already money market funds through the VictoryX mobile application, but this is the first time the firm is offering to facilitate stablecoin holders with earning extra yield.
Both products are expected to launch by the end of this year.
Executive Director of Victory Securities, Kennix Chan, stated that at the moment, Hong Kong does not have many options for strategic investment products that are regulated by the government, especially in the virtual asset investment market.
“The regulatory green light for Victory Securities to market virtual asset structured products signifies an important step forward for Hong Kong to build a comprehensive virtual asset ecosystem,” said Chan.
On Oct. 28, Eric Yip, Executive director for intermediaries at the SFC, <a rel="noopener noreferrer nofollow" href="https://crypto.news/hong-kong-considers-tax-break-on-crypto-investments-and-using-ai-for-finance/">said</a> the Hong Kong SFC vowed to deliver the final list of crypto exchanges at will receive full licenses by the end of the year.
In addition, Hong Kong regulators will form a consultation panel for the licenses exchanges to maintain cooperation efforts set to operate by early 2025.
On the same day, the Hong Kong Exchanges and Clearing Limited <a rel="noopener noreferrer nofollow" href="https://crypto.news/hong-kong-considers-tax-break-on-crypto-investments-and-using-ai-for-finance/">announced</a> plans to launch a Virtual Asset Index Series on Nov. 15 2024.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/hong-kong-considers-tax-break-on-crypto-investments-and-using-ai-for-finance/"> Hong Kong considers tax break on crypto investments and using AI for finance </a>

Victory Securities to launch first SFC-approved virtual asset structured products in Hong Kong

crypto.news

Other articles published on Nov 4, 2024

Shiba Inu (SHIB) Stuns Dogecoin With Triple-Digit Whale Transaction Boost

XRP Price Eyes Bullish Divergence: Possible Scenarios

Chainlink and ANZ Collaborate on Private Transactions for Tokenized Real-World Assets

Bitcoin ETFs Do Not Bring The Expected Boost

Binance Co-Founder Yi He Denies Claims of High Listing Fees on the Exchange

3 signs Ethereum price is in trouble below $2,500

Join our free newsletter for daily crypto updates!