Victory Securities launches Hong Kong's first Web3 multi-strategy fund that accepts stablecoin subscriptions

According to official sources, after consulting with the Hong Kong Securities and Futures Commission, Victory Securities successfully passed the relevant regulatory inquiry procedures on October 10, 2024. They can now initiate and manage the Victory VSG virtual asset multi-strategy fund (referred to as the fund), and accept investors' stablecoin subscriptions for fund units. This fund will be the first Web3 multi-strategy compliant fund initiated by a licensed virtual asset investment organization company of the Hong Kong Securities and Futures Commission, and accepting investors' stablecoin subscriptions for fund units since the Hong Kong Securities and Futures Commission implemented the regulatory framework for virtual asset investment organizers in 2018. It is reported that Virtual Seed Asset Management (Hong Kong) Limited (VSG) will serve as the investment advisor and collaborate with Victory Securities, the fund manager, to manage this fund.