Deep Tide TechFlow News, on November 4, according to Dongwang, Hong Kong virtual asset brokerage Victory Securities announced that it will launch two innovative products and services by the end of 2024. The company has been approved by the Hong Kong Securities and Futures Commission to become the first licensed broker in Hong Kong authorized to sell cash-settled virtual asset structured products to qualified professional investors.
These products reference virtual assets and aim to help clients achieve higher potential returns, manage market volatility risks, and achieve various investment objectives such as arbitrage under specific market conditions. In addition, Victory Securities also plans to provide designated products and services for clients holding stablecoins through its platform to help clients earn additional income.
Victory Securities Executive Director Chan Pui-chuen stated that the currently regulated virtual currency investment market lacks strategic investment product options. The approval to distribute virtual asset structured products marks an important step for Hong Kong in establishing a more comprehensive virtual asset ecosystem. It is reported that Victory Securities is the first and only broker in Hong Kong authorized to allow clients to directly deposit and withdraw cryptocurrencies and stablecoins through its platform.