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More Hong Kong Brokerages Are Providing Crypto Trading Services

Hongji Feng
Last updated: | 1 min read

As Victory Securities expands with crypto services, more Hong Kong brokerages are offering virtual asset trading options.

According to a recent report by the Securities Times, several Hong Kong brokerages, including Victory Securities, Tiger Securities, and Interactive Brokers, have introduced services that allow investors to trade Bitcoin and other virtual assets directly through their platforms.

Victory Securities Introduces Stablecoin Deposit

On June 12, Victory Securities announced that the brokerage would offer stablecoins deposit and withdrawal services for professional investors, including Tether (USDT) and USD Circle (USDC). Investors can now access new services on its VictoryX App.

Previously, Victory Securities has introduced Bitcoin (BTC) and Ethereum (ETH) trading for retail investors and included the features on the same platform. It obtained the license from the Hong Kong Securities and Futures Commission (SFC) in November 2023.

The company was the first to receive the necessary licenses for virtual asset operations, which include Type 1 for Virtual Asset Trading, Type 4 for Virtual Asset Advisory Services, and Type 9 for Virtual Asset Management Services.

“Investors can now trade a wide range of virtual asset from different exchanges via Victory Securities’ Platform, and with the newly launched stablecoins deposit and withdrawal services, we can provide them with more diversified investment choices,” said Victory Securities Executive Director Kennix Chan.

The company has also planned to launch a new “Convert” feature to help investors invest in and trade stablecoins instantly, improving the user experience.

Tiger Brokers Launches Crypto Trading in Hong Kong

In addition, Tiger Brokers officially launched virtual asset trading services on May 6, providing investment opportunities for 18 cryptos including Bitcoin and Ethereum.

Tiger Brokers integrated crypto trading services and traditional finance services, including stocks, options, futures, and bonds into its flagship platform Tiger Trade, making it the first online brokerage that offers both crypto and stock trading in Hong Kong.

The report also indicated that some brokerages in Hong Kong generate a quarter to one third of the revenue from crypto services. As early starters in the sector, their gains from crypto services have exceeded the cost of investments.