TechFlow news — Victory Securities announced the launch of a virtual asset trading application. Due to regulatory restrictions, it will initially only be available to professional investors. This app allows customers to invest in Bitcoin and Ethereum using U.S. dollars.
Peter Chan, Executive Director at Victory Securities, said he expects the China Securities Regulatory Commission (CSRC) to issue guidelines this quarter on brokers opening virtual asset trading to retail investors. Depending on the application progress, the app could open to retail investors in the fourth quarter, enabling them to trade virtual assets.
Chan revealed that Victory Securities currently partners with licensed exchange OSL, allowing customers to trade tokens listed on OSL. They aim to collaborate with more licensed exchanges in the future, enabling customers to access multiple exchange offerings through the Victory Securities platform. Additionally, they plan to integrate traditional finance and virtual asset investments into a single application, making it easier for clients to manage portfolios containing both traditional and digital assets.
Chan noted that prior to launching the app, professional investor clients conducted virtual asset trades via email and phone. Currently, about 5% of professional investor clients invest in virtual assets, including some Hong Kong-listed companies. He believes such investment demand will fluctuate according to market conditions.
