The Hong Kong Securities and Futures Commission (SFC) has granted a crypto license to Victory Fintech (VDX), an affiliated entity of publicly listed financial services company Victory Securities (8540).
Victory was granted permission to operate a digital asset trading platform on Friday, according to the SFC’s register of licensed crypto companies, the first addition since June 17 last year.
Hong Kong introduced its current regime for regulating companies providing crypto services in 2023, with Hashkey Exchange and OSL Digital Securities being the first two parties to receive approval.
There are now 12 approved platforms on the registry, including Bullish (BLSH), listed on the New York Stock Exchange, which is also the parent company of CoinDesk.
The regime has gained a reputation as one of the strictest among major financial jurisdictions. Major exchanges OKX and Bybit both withdrew their license applications in May 2024.
