Hong Kong broker and investment management firm Victory Securities plans to begin marketing crypto assets structured products by December. The firm will also offer unique products and services only to customers holding stablecoins in its omnibus account, enabling them to earn extra return on investment (ROI) over time.
First Broker in Hong Kong
According to the company’s release on Monday, Victory Securities has become the first broker to receive regulatory approval from the Hong Kong Securities and Finance Commission (SFC) to offer cash-settled digital asset-structured products to eligible professional investors.
Highlighting the benefits of the approval, Kennix Chan, executive director of Victory Securities, commented:
“At present, there is a lack of options for strategic investment products in the regulated 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.”
Following the SFC’s approval, the asset manager is working to introduce new products that will further solidify its position in the crypto brokerage industry before Q4 2024 ends.
Fresh Crypto-Structured Products
Victory Securities plans to update its VictoryX application to include more investment products. First, it will consist of new products that will track the price of specific cryptocurrencies, allowing investors to gain exposure to the crypto ecosystem while earning returns depending on different market conditions, either bullish or bearish.
As an asset manager, Victory Securities will handle any issues arising from market volatility and help investors reach specific investment goals, such as arbitrage.
Moreover, since Victory Securities’ clients can invest in money market funds using the VictoryX mobile app, the broker is introducing products allowing qualified hodlers to earn relatively stable returns.
“Victory Securities will continue to strive to introduce unique and innovative investment products to facilitate our clients in building their diversified investment portfolio and capturing profit opportunities under different market conditions,” Chan said.
Hong Kong’s Crypto Dawn
In a recent move to promote crypto adoption, the Hong Kong Financial Watchdog revealed plans to introduce stablecoin regulations before the end of the year.
Meanwhile, it followed the United States’ path in approving spot Bitcoin and Ether exchange-traded funds (ETF) earlier this year, increasing its position as an international focal point for financial investments.
