Victory Securities and VSG to Develop Compliant Virtual Asset Fund Products

CryptoNews.com · 2024-06-17T03:24:50+00:00

Victory Securities and Virtual Seed Global have partnered to create regulated virtual asset fund products using Victory’s compliance expertise and VSG’s data capabilities. The collaboration aims to create compliant products for investors with increased demand for virtual assets while ensuring compliance within the asset fund industry. Victory Securities launched stablecoin deposit and withdrawal services for professional investors via VictoryX App on June 12, following previous integration of Bitcoin and Ethereum trading features for retail investors. The company obtained licenses for virtual asset operations in Hong Kong, including Types 1, 4, and 9.

CryptoNews.com

2024-06-17 03:24:50

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Hongji Feng

Last updated:

June 17, 2024 07:24 EDT | 1 min read

Victory Securities has joined collaboration with Virtual Seed Global (VSG) to develop regulated virtual asset fund products for investors.

According to a statement published by Media OutReach Newswire, Victory Securities and VSG have signed a memorandum of understanding to create virtual asset fund products within a comprehensive compliance framework.

New Collaboration for Virtual Asset Funds

The partnership aims to leverage the strengths of both firms, leveraging Victory Securities’ compliance expertise and VSG’s data acquisition and industry research capabilities to meet the investors’ increasing demand for virtual assets.

“We’ve noticed that our clients have increasingly high demands for investments in various asset categories,” said Victory Securities utive Director Kennix Chan.

“As the virtual asset industry is rapidly developing globally, we are actively working with professional virtual asset organizations like VSG to create compliant products to help our clients capitalize on market opportunities,” stated Chan.

The statement indicated that the two companies’ partnership would allow both companies to complement each other and collaborate effectively within the financial technology sector for advanced financial services.

“With our unique virtual asset strategies and track record, we unlock more potential for the virtual asset industry and establish cooperation with Victory Securities on market expansion and related product services in the future,” said VSG founder Jacky Wang.

Victory Securities Launches Stablecoin Services

On June 12, Victory Securities announced that it would offer stablecoin deposit and withdrawal services for professional investors, including Tether (USDT) and USD Coin (USDC). These new services are made available on the VictoryX App.

Previously, Victory Securities introduced Bitcoin (BTC) and Ethereum (ETH) trading for retail investors, integrating these features on the same platform.

The brokerage was the first to receive the required licenses for virtual asset operations in Hong Kong, including Type 1 for Virtual Asset Trading, Type 4 for Virtual Asset Advisory Services, and Type 9 for Virtual Asset Management Services.

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