Victory Securities launches Hong Kong's first Web3 multi-strategy fund accepting subscriptions in stablecoins

2024-10-15 20:59:37

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According to ChainCatcher news, Hong Kong listed company Victory Securities (8540.HK) announced on October 10, 2024, the successful launch of the Victory VSG Multi-Strategy Fund for virtual assets, which is the first Web3 multi-strategy fund in Hong Kong to accept subscriptions in stablecoins. The fund has passed the regulatory inquiry process of the Hong Kong Securities and Futures Commission (SFC), becoming the first compliant fund initiated by a SFC-licensed virtual asset investment company to accept subscriptions in stablecoins.

The fund will be advised by Virtual Seed Asset Management (Hong Kong) Limited (VSG) and will be custodied at a Hong Kong licensed virtual asset exchange insured by a large insurance institution. This innovative initiative aims to provide safe and reliable virtual asset investment options for professional investors within a global compliance framework. Victory Securities became the first licensed corporation in Hong Kong in 2023 to be approved by the SFC to provide virtual asset trading, consulting, and asset management services.

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