Key Points:
Chen Peiquan, the firm’s executive director, revealed that they anticipate the Hong Kong Securities Regulatory Commission to release guidelines for securities companies to extend virtual asset trading access to retail investors within the current quarter. The launch would depend on regulatory approvals, with the potential for retail investors to engage in virtual asset trading by the fourth quarter.
Presently, Victory Securities offers the “VICSEC” virtual asset trading application exclusively to professional investors. This platform enables customers to invest in Bitcoin and Ethereum using US dollars, catering to the needs of qualified investors.
Chen Peiquan disclosed that Victory Securities has established connectivity with the licensed exchange OSL. This partnership allows customers to trade a variety of currencies based on the exchange’s listings. Moreover, Victory Securities envisions merging traditional financial and virtual asset investments within a single application. This approach will provide customers with a seamless way to manage investment portfolios encompassing both conventional and virtual assets.
Currently, approximately 5% of Victory Securities‘ professional investor clientele engage in virtual asset investments, including those in Hong Kong-listed companies. By expanding access to retail investors, the firm aims to tap into the growing demand for diversified investment options within the evolving digital landscape.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Willemstad, Curaçao, 4th November 2024, Chainwire
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