Victory Securities Launches Hong Kong's First Web3 Multi-Strategy Fund That Accepts Stablecoin Subscriptions

According to official news, after consultation with the Hong Kong Securities Supervision Commission, Victory Securities successfully passed the relevant regulatory inquiry process on October 10, 2024, and can initiate and manage the Victory VSG Virtual Asset Multi-Strategy Fund (referred to as the Fund), and accept investors to subscribe to fund units in stablecoins. This fund will be the first Web3 multi-strategy compliance fund initiated by a licensed virtual asset investment organizer company of the Hong Kong Securities Supervision Commission and accepted investors to subscribe to fund units in stablecoins after the Hong Kong Securities Supervision Commission implemented the regulatory framework for virtual asset investment organizer companies in 2018. It is reported that Virtual Seed Asset Management (Hong Kong) Co., Ltd. (VSG) will act as an investment advisor and manage the fund in cooperation with Shengli Securities, which is the manager.