Hong Kong Stock Market Movement | Victory Securities(08540) surges over 13% A subsidiary company under its banner received a license to operate a virtual asset platform

Wise Securities (08540) shares rose over 13%. As of the time of writing, the stock increased by 13.12%, trading at HKD 5.69 with a turnover of HKD 1.1973 million.

On the news front, Wise Securities announced that one of its affiliated companies, Wise Digital Technology Limited, has received a license under the Securities and Futures Ordinance (SFO) for Type 1 (Securities Trading) and Type 7 (Automated Trading Services) regulated activities from the Securities and Futures Commission (SFC); and a license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) for operating a virtual asset trading platform (virtual asset services). The securities and futures license and the anti-money laundering license have been approved by the SFC, subject to certain conditions imposed by the regulator.

Given the rapid development of virtual asset-related businesses in Hong Kong supported by the government in recent years, the board believes that Wise Digital Technology operating a virtual asset trading platform after obtaining the relevant regulatory approvals aligns with the group’s strategy to provide more diversified services to clients, creates opportunities for synergy among different business lines, and adds value to the group. Furthermore, following the licensing of Wise Digital Technology, the group has become one of the few market participants to obtain key links in the virtual asset ecosystem under the comprehensive regulatory framework introduced by the SFC. The board expects that the virtual asset business division will encounter more business opportunities, continue to expand, and create new revenue streams for the group.