Victory Securities Launches First Web3 Multi-Strategy Fund in Hong Kong

According to Odaily, Victory Securities has successfully navigated regulatory inquiries with the Hong Kong Securities and Futures Commission (SFC) and, as of October 10, 2024, is authorized to launch and manage the Victory VSG Virtual Asset Multi-Strategy Fund. This fund will allow investors to subscribe using stablecoins. This marks the first Web3 multi-strategy compliant fund initiated by an SFC-licensed virtual asset investment organizer since the SFC implemented its regulatory framework for virtual asset investment companies in 2018. Victory Securities will collaborate with Virtual Seed Asset Management (Hong Kong) Limited (VSG), which will serve as the investment advisor for the fund. The partnership aims to leverage VSG's expertise in virtual asset management to ensure the fund's success. The fund's approval and launch signify a significant milestone in the regulatory landscape for virtual assets in Hong Kong, reflecting the growing acceptance and integration of digital assets within the financial sector.