Victory Securities gains SFC approval to expand virtual asset services

Victory Securities, a Hong Kong-based licensed securities firm with over 50 years of history, has secured approval from the Securities and Futures Commission (SFC) to offer expanded virtual asset (VA) services.  

The firm can now provide discretionary account management services (DAMS) to both retail and professional investors, managing customisable portfolios that include spot virtual assets, VA futures, and VA options.  

Victory Securities is the first licensed broker in Hong Kong authorised to offer VA DAMS through major regulated exchanges such as Binance FZE and Deribit FZE.  

The DAMS service will feature asset allocation, risk assessment, and dynamic strategies with continuous monitoring, aiming to address investor concerns about market volatility.  

“Our discretionary account management services will strictly comply with the SFC’s regulatory framework, integrating quantitative analysis and market insights to create long-term value for investors,” stated Kennix Chan, deputy CEO of Victory Securities.

In addition, Victory Securities received approval to distribute physically-settled VA-referenced structured products to professional investors.  

This follows its earlier approval to offer cash-settled VA-structured products, making it the first Hong Kong brokerage to distribute such products.  

Physically-settled products will allow clients to receive actual spot virtual assets upon maturity, reducing costs and delays associated with cross-market asset conversions.  

“This service significantly reduces the cost and time barriers associated with cross-market asset conversions, providing cryptocurrency holders with an innovative channel to seamlessly access traditional financial products,” Chan explained.

Victory Securities has been actively aligning with Hong Kong’s regulatory push to embrace virtual assets, strengthening its compliance infrastructure and offering a comprehensive ecosystem covering trading, asset management, and product distribution.  

The company holds multiple SFC licenses covering a broad range of regulated activities and was the first licensed entity in Hong Kong to offer virtual asset trading, advisory, and asset management services.