Victory Securities, an investment firm based in Hong Kong, has successfully secured a retail license for cryptocurrency trading.

Hong Kong-based investment firm Victory Securities (8540) has obtained approval from the Securities and Futures Commission (SFC) to provide cryptocurrency services to retail clients. In a statement released on Friday, Victory Securities announced its status as the first licensed corporation offering crypto trading and advisory services to retail investors. This achievement aligns the firm with other crypto-native entities like HashKey Exchange and OSL Digital Securities, all operating with regulatory approval.

The regulatory landscape in Hong Kong underwent a significant shift earlier this year, introducing a framework allowing the provision of crypto services to retail investors. This move reflects the evolving dynamics of the cryptocurrency market, particularly in Asia, where jurisdictions are increasingly providing clearer regulatory frameworks compared to other regions, such as the United States.

As of now, Victory Securities is listed as an applicant on the Securities and Futures Commission’s roster of virtual asset trading firms. CoinDesk sought clarification from the SFC, but as of the time of this press release, no response had been received.