PANews reported on November 4 that according to East Net, virtual asset broker Victory Securities announced that the company plans to start promoting virtual asset structured products to qualified professional investors by the end of this year, and provide designated products and services to customers who hold stablecoins through the company's platform to help customers earn additional income. Victory Securities announced that it has been allowed by the Securities and Futures Commission to sell cash-settled virtual asset structured products to qualified professional investors, making it the first licensed brokerage firm approved in Hong Kong. This type of product uses virtual assets as reference assets to help customers obtain higher potential returns, manage market volatility risks, and achieve arbitrage and other investment goals in specific market conditions.
In addition, Victory Securities customers can now subscribe to money market funds through its mobile application VictoryX. In the future, the company will further provide eligible customers holding stablecoins with designated products and services to earn relatively stable additional income. The above two products and services are expected to be launched on the market before the end of this year.
