According to Odaily Planet Daily, after consultations with the Hong Kong Securities and Futures Commission, Victory Securities successfully passed the relevant regulatory inquiry procedures on October 10, 2024, and can initiate and manage the Victory VSG virtual asset multi-strategy fund and accept investors to subscribe to fund units in stablecoins.

This fund is the first Web3 multi-strategy compliant fund initiated by a licensed virtual asset investment organizer company and accepting investors to subscribe to fund units in stablecoins since the Hong Kong Securities and Futures Commission implemented the regulatory framework for virtual asset investment organizer companies in 2018.

Virtual Seed Asset Management (Hong Kong) Co., Ltd. will serve as an investment advisor and work with Victory Securities as the manager to manage this fund.