Victory Securities (08540) saw its stock price skyrocket by 87.37% in intraday trading on Thursday, following a significant regulatory breakthrough for the company in the virtual asset space.

The surge comes after Victory Securities, a well-established securities firm with over five decades of experience, announced that it had received crucial approval from Hong Kong's Securities and Futures Commission (SFC) to offer two key virtual asset (VA)-related services. This regulatory green light positions Victory Securities as a pioneer in the evolving landscape of digital asset management in Hong Kong.

Of particular note is the approval for discretionary account management services (DAMS), which allows Victory Securities to manage investment portfolios that include spot virtual assets, VA futures, and VA options. The company has become the first licensed broker in Hong Kong authorized to offer VA DAMS through major platforms like Binance FZE and Deribit FZE. This development is seen as a significant step in bridging the gap for investors who have been cautious about entering the volatile virtual asset market, offering them access to experienced investment teams and institutional-grade risk control systems.