TechFlow news, October 15 — According to an official announcement, Hong Kong-listed Victory Securities (8540.HK) announced on October 10, 2024, the successful launch of the Victory VSG Virtual Asset Multi-Strategy Fund, the first Web3 multi-strategy fund in Hong Kong that accepts stablecoin subscriptions. The fund has passed the regulatory inquiry process of the Hong Kong Securities and Futures Commission (SFC), becoming the first compliant fund initiated by an SFC-licensed virtual asset investment firm in Hong Kong that accepts stablecoin investments.
The fund will be advised by Virtual Seed Asset Management (Hong Kong) Limited (VSG) and custodied on a licensed Hong Kong virtual asset exchange insured by a major insurance institution. This innovative initiative aims to provide professional investors under global compliance frameworks with a secure and reliable virtual asset investment option. In 2023, Victory Securities became the first licensed corporation in Hong Kong approved by the SFC to offer virtual asset trading, advisory, and asset management services simultaneously.
