Hong Kong’s Securities and Futures Commission (SFC) granted a crypto license to Victory Fintech (VDX), an affiliated entity of listed financial services firm Victory Securities (8540).
Victory obtained permission to operate a digital asset trading platform on Friday, according to the SFC’s register of authorized 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 NYSE-listed Bullish (BLSH), which is also the parent company of CoinDesk.
The regime has earned a reputation as one of the strictest among major financial jurisdictions. Prominent exchanges OKX and Bybit withdrew their license applications in May 2024.
