Victory Securities (Holdings) Company Limited has announced that its subsidiary, Victory Securities Company Limited (VSCL), has been granted permission by the Securities and Futures Commission of Hong Kong to manage portfolios investing in virtual assets.

As per the announcement, the company has complied with the SFC's "Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets". 

"In view of the rapid development of virtual assets in recent years, the Board believes that the provision of asset management services in respect of virtual assets will enable the Group to provide more diversified services to its clients, which is in line with the strategy of the Group, and will have a positive impact on the future development of the Group by creating new avenues of revenue generation as well as industry knowledge from expertise on virtual asset." the firm wrote in the statement.