As Victory Securities expands its offerings into crypto services, additional Hong Kong brokerages are now providing options for virtual asset trading.
As reported by the Securities Times, several brokerages in Hong Kong, such as Victory Securities, Tiger Securities, and Interactive Brokers, have recently launched services enabling investors to trade Bitcoin and other virtual assets directly via their platforms.
Victory Securities Introduces Stablecoin Deposit
On June 12, Victory Securities announced the launch of stablecoin deposit and withdrawal services tailored for professional investors, encompassing Tether (USDT) and USD Circle (USDC). These new offerings are accessible through their VictoryX App.
Previously, Victory Securities had expanded its platform to include Bitcoin (BTC) and Ethereum (ETH) trading for retail investors, following the acquisition of a license from the Hong Kong Securities and Futures Commission (SFC) in November 2023.
As the pioneering recipient of licenses for virtual asset operations, Victory Securities holds Type 1 for Virtual Asset Trading, Type 4 for Virtual Asset Advisory Services, and Type 9 for Virtual Asset Management Services.
Kennix Chan, Executive Director of Victory Securities, emphasized, “Investors can now access a diverse range of virtual assets across various exchanges through Victory Securities’ Platform. With the introduction of stablecoin deposit and withdrawal services, we aim to enhance their investment choices.”
Further enhancing user convenience, the company is preparing to launch a new “Convert” feature, enabling investors to instantly invest in and trade stablecoins, thereby improving overall user experience.
Tiger Brokers Launches Crypto Trading in Hong Kong
Furthermore, Tiger Brokers debuted its virtual asset trading services on May 6, enabling investment opportunities in 18 cryptocurrencies, including Bitcoin and Ethereum.
Integrating crypto trading alongside traditional financial services such as stocks, options, futures, and bonds within its Tiger Trade flagship platform, Tiger Brokers became the pioneering online brokerage to offer both crypto and stock trading in Hong Kong.
Reports highlight that certain Hong Kong brokerages derive between a quarter to one third of their revenue from crypto services. These early adopters in the sector have seen returns from their crypto ventures surpassing initial investment costs.
