Hong Kong SFC Adds Victory Fintech to Licensed List, First New Virtual Asset Trading Platform Since June Last Year

Odaily News: The Hong Kong Securities and Futures Commission (SFC) announced the inclusion of Victory Fintech Company Limited into its official list of licensed virtual asset trading platforms. The official website currently shows that the number of licensed crypto and blockchain-related institutions has increased to 12. This marks the first new crypto trading platform license issued since the approval of Hong Kong BGE in June 2025.

Since June 2024, Hong Kong authorities have made operating an unlicensed virtual asset trading platform a criminal offense, leading to the exit of several exchanges from the Hong Kong market, with OKX and Bybit also withdrawing their license applications.

Furthermore, Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, previously stated that regulators plan to submit a legislative draft concerning crypto asset advisory service providers in 2026. Although 12 companies have now been licensed by the SFC, the Hong Kong Monetary Authority has yet to list any licensed stablecoin issuers.

It is worth noting that the SFC recently issued guidelines allowing licensed brokers to provide virtual asset margin financing services, initially accepting only Bitcoin (BTC) and Ethereum (ETH) as collateral. Simultaneously, the regulator also unveiled a framework permitting trading platforms to offer perpetual contract trading to professional investors.