Hong Kong Grants Crypto License to Victory Fintech

Edgen Crypto

·Feb 16 2026, 18:13

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Key Takeaways

Hong Kong's securities regulator has granted a virtual asset trading license to Victory Fintech, marking a significant development in the city's crypto landscape. This is the first new license issued in over eight months, signaling a continued, albeit cautious, expansion of the regulated digital asset market.

Hong Kong's Securities and Futures Commission (SFC) approved Victory Fintech (VDX) to operate a licensed digital asset trading platform.
The approval is the first since June 17, 2025, bringing the total number of licensed crypto platforms in the city to 12.
The decision comes after prominent exchanges OKX and Bybit withdrew their license applications in May 2024, underscoring the stringency of Hong Kong's regulatory regime.

Victory Fintech Becomes 12th Licensed Crypto Platform in Hong Kong

Hong Kong's Securities and Futures Commission (SFC) granted a license to Victory Fintech (VDX) on Friday, February 16, 2026, authorizing it to operate a digital asset trading platform. VDX is an affiliate of the publicly listed financial services firm Victory Securities (8540). The approval marks the first new entrant to the city's regulated crypto market since June 17, 2025, expanding the total number of licensed platforms to 12.

Strict Regime Culls Exchange Applicants

Hong Kong's regulatory framework for crypto services, introduced in 2023, is regarded as one of the strictest globally. Hashkey Exchange and OSL Digital Securities were the first two firms to receive approval under this regime. The high compliance standards have proven challenging for some major industry players, leading prominent exchanges OKX and Bybit to withdraw their applications in May 2024. Victory Fintech's successful application demonstrates a commitment to meeting these rigorous requirements, joining other licensed entities like the New York Stock Exchange-listed Bullish (BLSH).