Victory Fintech Gains HK SFC Crypto Trading License

Hong Kong Regulator Adds Victory Fintech to Approved Trading Platforms

Hong Kong’s Securities and Futures Commission (SFC) has recently expanded its roster of officially licensed cryptocurrency trading platforms by including a new entrant, as detailed in a formal announcement released on Friday. This development underscores the ongoing efforts by Hong Kong authorities to regulate and legitimize virtual asset activities within its financial ecosystem.

The SFC maintains an updated public list of licensed virtual asset trading platforms on its official website, and Victory Fintech Company Limited now appears as the most recent addition, bringing the total number of such approved cryptocurrency and blockchain-related entities to twelve. This approval for Victory Fintech represents the first instance since June 2025 that the SFC has granted a license to a new crypto trading platform operating in Hong Kong, signaling a measured pace in the regulatory approval process following a previous endorsement for Hong Kong BGE.

For quite some time, Hong Kong has earned a reputation as one of the more stringent jurisdictions for cryptocurrency businesses seeking to establish operations. Since June 2024, local authorities have intensified their enforcement actions, treating the operation of unlicensed virtual asset trading platforms as a serious criminal violation. This crackdown prompted numerous exchanges that were previously active in the region to either cease operations entirely or, in cases like OKX and Bybit, to formally withdraw their applications for licensing, thereby reshaping the competitive landscape for crypto services in Hong Kong.

In a related development earlier this year, Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, indicated that regulatory bodies, including the SFC, are actively preparing to introduce a draft ordinance specifically tailored for providers of cryptocurrency advisory services. This legislative proposal is slated for submission sometime in 2026, aiming to create a more comprehensive framework for crypto-related advisory activities. Despite the progress with trading platforms, where a dozen companies now hold SFC licenses, Hong Kong’s Monetary Authority has yet to register any licensed stablecoin issuers as of the latest update on Monday, highlighting areas where regulatory approvals remain pending.

HK Permits Licensed Firms to Offer Crypto Margin Financing and Perpetual Trading

The licensing of Victory Fintech arrives at an opportune moment, just days after the Hong Kong SFC issued new guidance permitting licensed brokers and trading platforms to extend virtual asset margin financing services to eligible clients. This regulatory update specifies that, at the initial stage, only two leading cryptocurrencies qualify as collateral for these margin activities: Bitcoin, currently trading around $67,998, and Ether, priced at approximately $1,988. Such provisions are designed to facilitate more sophisticated trading strategies while maintaining strict oversight to mitigate associated risks.

Furthermore, the SFC has established a detailed framework enabling approved trading platforms to offer perpetual contracts exclusively to professional investors. Perpetual contracts, a popular derivative instrument in the crypto markets, allow traders to speculate on asset prices without expiration dates, providing flexibility for hedging and leveraged positions. By restricting these offerings to professional investors—who are deemed to possess the requisite experience and financial capacity—the regulator seeks to balance innovation with investor protection in Hong Kong’s evolving digital asset sector.

This series of regulatory advancements reflects Hong Kong’s strategic ambition to position itself as a premier global hub for virtual assets and fintech innovation. The inclusion of Victory Fintech not only bolsters the credibility of compliant operators but also encourages further investment and development in blockchain technologies under a robust supervisory regime. As the SFC continues to refine its policies, industry participants anticipate additional clarifications and expansions that could encompass more asset types, services, and market participants, fostering sustainable growth in the region’s cryptocurrency landscape.

Market observers note that these measures come amid broader global trends toward clearer crypto regulations, with Hong Kong differentiating itself through proactive enforcement and structured licensing pathways. The emphasis on professional investor access for advanced products like perpetuals demonstrates a nuanced approach, prioritizing financial stability while unlocking opportunities for institutional engagement. Looking ahead, the anticipated 2026 ordinance on crypto advisory services could further solidify Hong Kong’s framework, potentially attracting more international firms to seek approvals and expand their Asian footprints.