Victory Securities invests over 10 million HKD to develop the first Hong Kong stock & VA trading app - VictoryX

HONG KONG SAR - Media OutReach Newswire - 11 April 2024 - Victory Securities ("Victory") announced the launch of its first securities and virtual assets trading app in Hong Kong – VictoryX (Chinese name: 勝利通) , the first licensed corporation in Hong Kong to offer a single app for asset allocation on securities and virtual assets at the same time.

Victory also announced that it is the "first broker-dealer in Hong Kong" to be authorized by the Securities and Futures Commission (SFC) to provide token-in-token-out to retail clients. At the end of last year, Victory was approved by the SFC to provide retail investors with virtual asset trading, distribution of virtual asset related products and consulting services, and now retail investors can freely trade investment products in various markets, including virtual assets, Hong Kong stock and U.S. stock markets, etc., and trade virtual assets at their doorsteps through one platform. Clients are also expected to deposit & withdraw the cryptocurrencies via the APP within a short period, realizing a comprehensive allocation of traditional financial and virtual assets.

With the expiry of the licensing application period of the Hong Kong Securities and Futures Commission (SFC)'s regulatory regime for virtual asset trading platforms at the end of February, the virtual asset industry in Hong Kong will be fully regulated, providing investors with protection for their virtual assets and transactions. As a leading virtual asset licensed corporation in Hong Kong, Victory was the first to be granted the relevant licenses for virtual asset business (No. 1 (Virtual Asset Trading), No. 4 (Virtual Asset Advisory Services) and No. 9 (Virtual Asset Management Services) last year. As early as a year ago, Victory has already established a it’s own R&D Team, and spent tens of millions Hong Kong dollars to develop its own trading app - VictoryX. Victory hopes to lead investors from the Web 2.0 traditional financial services, through its simple operation process to easily allocate Web 3.0 assets. Both the mobile app and desktop trading system have been fully upgraded to provide trading services in major markets such as virtual assets, Hong Kong stocks, US stocks, etc., and will soon be expanded to include China Connect and Global Stock Markets, to assist clients capture market opportunities and global asset allocation seamlessly and in real time.

Victory Securities participated in the Web3 Festival from April 6 to 9, and was the only licensed corporation that provide trade securities and virtual asset trading services at the same time and connected virtual asset trading to multiple exchanges. Clients were invited to try out the APP on-site and the response was overwhelming, with over 1,000 account opening enquiries received. On April 10th, Victory Securities held another APP launch party to announce the official release of its securities and virtual asset trading APP VictoryX. Meanwhile, Victory Securities announced that it has been approved by the Securities and Futures Commission (SFC) to allow the deposit and withdrawal virtual asset, making it the first and the only broker-dealer to provide such service in Hong Kong.

VictoryX is designed to address the pain points of traditional financial investors by solving the problem of complicated operations faced by newcomers to the virtual asset market in the past. Instead of having to find a OTC store, they can directly open an account and deposit funds for trading, which is a one-stop process that can be accomplished online, and at the same time, their assets can be safeguarded. Victory has also teamed up with a leading international virtual assets information media to provide investors with the latest news on the virtual assets market, solving the problem of scattered information in the market in the past. The launch of the mobile trading application combining securities and virtual assets is a small step for Victory Securities to enter the virtual asset market. In the future, Victory will continue to improve its functions and strive to provide more diversified investment products with fintech and Web 3.0 components.

Mr. Kennix Chan, Executive Director of Victory Securities, said at the app launch party, "In recent years, investors' demand for a secure and sophisticated trading platforms has been on the rise, so Victory Securities has invested tens of millions of dollars to create a market-unique securities and virtual asset trading app, which, together with the approval from the Securities and Futures Commission to allow Victory to provide token-in-token-out services to clients, is expected to be an even greater success for Victory Securities in the virtual assets space. The successful development of the APP by our in-house R&D team is not only a big step forward for Victory Securities in Fintech area, but also signifies that the local licensed corporation has the courage to innovate in the midst of adversity, and is heading towards the goal of becoming the most influential virtual asset broker-dealer in Hong Kong and even in the Asia Pacific region," said Mr. Chan.

Victory Securities is now actively developing virtual asset-related investment products and technology solutions, such as the BTC Cycle Fund launched earlier and the ETF and Algo trading system planned to be launched, which are targeted at different levels of investors. Victory Fintech Company Limited (VDX), a company in which Victory has a stake, has also taken the lead in forming a professional team since 2020, specializing in the development of virtual asset Exchange with a view to develop a comprehensive ecological layout for the Web3 industry for retail investors, professional investors and enterprises.

VictoryX勝利通

Android: https://play.google.com/store/apps/details?id=com.victorysec.va.securities

iOS: https://apps.apple.com/hk/app/%E5%8B%9D%E5%88%A9%E9%80%9A/id6473008750

Victory Securities (stock code: 8540.HK), with over 50 years of history, is a comprehensive full-licensed securities firm licensed by the Securities and Futures Commission, with regulated activities under Type 1, Type 2, Type 4, Type 6, and Type 9. Investors can enjoy Victory Securities' comprehensive financial services, including Hong Kong and global securities trading, first and second market securities financing, corporate financing (capital markets and bond capital markets), wealth management in various fields. In 2023, Victory Securities became the first and currently only licensed entity in Hong Kong to hold virtual asset trading, advisory, and asset management service licenses issued by the Securities and Futures Commission.