The Transformation Journey of Hong Kong's Established Brokerage Firms into the Crypto Assets Sector

On June 13, 2025, a remarkable conversation revealed significant changes in Hong Kong's financial sector. As the core driver of Victory Securities' virtual asset business, Kennix showcased the innovative spirit and profound heritage of this 54-year-old brokerage in the Crypto Assets field.

As the third-generation heir of a family business, Kennix skillfully combines traditional financial experience with opportunities in emerging markets. His deep affection for Hong Kong, along with a sense of mission to bring liquidity back to the city through innovative products, runs throughout the conversation. From the lessons learned from personally experiencing the FTX collapse to his unique insights on the tokenization of real-world assets (RWA) and stablecoins, Kennix demonstrates the limitless possibilities of the fusion between traditional finance and Crypto Assets.

Victory Securities has recently made breakthrough progress in cryptocurrency trading volume, exceeding HKD 10 billion, becoming a leader among licensed brokers in Hong Kong. Kennix believes that this achievement is mainly attributed to three major advantages: being the first to obtain regulatory licenses, having deep financial market experience, and a firm positioning as a Crypto broker.

The company has invested significant resources to independently develop the VictoryX platform, which integrates stock and Crypto Assets trading functions. The platform supports spot trading of various Crypto Assets such as Bitcoin and Ethereum, and plans to expand support for more chains in the future.

In terms of product innovation, Victory Securities has launched several pioneering products, such as physical Bitcoin delivery, stablecoin subscription Bitcoin funds, and a green energy exchange RWA project in collaboration with large technology companies. The company also plans to introduce new businesses such as structured products, lending, and over-the-counter trading to enrich the virtual asset ecosystem in Hong Kong.

Kennix emphasized the importance of compliance. He stated that the collapse of FTX made him deeply realize that compliance is not a hindrance, but a protection for investors. Victory Securities strictly adheres to regulatory requirements to ensure that all business operations are legal and compliant.

Regarding future development, Kennix stated that the company will continue to focus on opportunities in the RWA and DeFi sectors while remaining vigilant and exploring innovation within a compliance framework. He suggested that investors consider allocating 5% or more of their funds to virtual assets to achieve asset diversification.

In terms of stablecoins, Kennix is optimistic about their development prospects in Hong Kong, believing that both the Hong Kong dollar stablecoin and the offshore renminbi stablecoin have enormous potential. He calls on Hong Kong to seize the opportunity to enrich the application scenarios of stablecoins, in order to promote Hong Kong as a global virtual asset center.

Overall, the transformation path of Victory Securities demonstrates the determination and wisdom of traditional financial institutions seeking breakthroughs in emerging markets. Through technological innovation, strict compliance, and product diversification, Victory Securities is contributing to the development of the virtual asset market in Hong Kong, while also opening up new growth space for itself.