Victory Securities and EMC Labs have jointly launched a virtual asset fund approved by the Securities Regulatory Commission that accepts subscriptions in stablecoins

ChainCatcher news, Victory Securities announced that the compliance Bitcoin fund Victory EMC BTC Cycle Fund, launched in collaboration with EMC Labs, has received official approval from the Hong Kong Securities and Futures Commission (SFC). The fund is open to qualified professional investors and employs data mining and industry research as the basis for active cyclical allocation to Bitcoin.

It is reported that this move marks the fund as the first virtual asset fund in Hong Kong to receive SFC approval and accept subscriptions in USD stablecoins (such as USDC or USDT).