FTFT Announces its Formal Application for a VASP License in Hong Kong to Vigorously Expand into the Virtual Asset Sector
Future FinTech (NASDAQ: FTFT) has announced that its Hong Kong subsidiary, Future Securities, is applying for a Type 1 Virtual Asset Service Provider (VASP) license and a Type 9 Asset Management License from Hong Kong's Securities and Futures Commission (SFC). The company has partnered with a renowned Hong Kong compliance consultant to assist with the application process.
Future Securities, established in 2010, currently holds Hong Kong Licenses Type 1, 2, and 4, and provides traditional financial services including stocks, bonds, and funds trading. The VASP license will enable the company to legally conduct virtual asset-related businesses, particularly cryptocurrency trading through electronic facilities.
The strategic move aims to expand FTFT's financial services portfolio into the growing virtual asset market while operating within Hong Kong's regulatory framework.
Future FinTech (NASDAQ: FTFT) ha comunicato che la sua controllata di Hong Kong, Future Securities, sta presentando domanda per una licenza VASP (Virtual Asset Service Provider) di Tipo 1 e una licenza di gestione patrimoniale di Tipo 9 presso la Securities and Futures Commission (SFC) di Hong Kong. Per supportare la pratica di autorizzazione, la società si è avvalsa di un rinomato consulente per la compliance di Hong Kong.
Future Securities, fondata nel 2010, detiene attualmente le licenze hongkonghesi di Tipo 1, 2 e 4 e fornisce servizi finanziari tradizionali come negoziazione di azioni, obbligazioni e fondi. La nuova licenza VASP consentirà all'azienda di operare legalmente in ambito di asset virtuali, in particolare nel trading di criptovalute tramite piattaforme elettroniche.
Questa mossa strategica punta a estendere il portafoglio di servizi finanziari di FTFT nel mercato in crescita degli asset virtuali, mantenendosi nel perimetro regolamentare di Hong Kong.
Future FinTech (NASDAQ: FTFT) ha anunciado que su filial en Hong Kong, Future Securities, está solicitando una licencia VASP (Virtual Asset Service Provider) Tipo 1 y una licencia de gestión de activos Tipo 9 ante la Securities and Futures Commission (SFC) de Hong Kong. La compañía se ha aliado con un reconocido consultor de cumplimiento de Hong Kong para apoyar el proceso de solicitud.
Future Securities, fundada en 2010, posee actualmente las licencias de Hong Kong Tipo 1, 2 y 4, y ofrece servicios financieros tradicionales como negociación de acciones, bonos y fondos. La licencia VASP permitirá a la firma operar legalmente negocios relacionados con activos virtuales, en particular el comercio de criptomonedas a través de plataformas electrónicas.
Esta medida estratégica busca ampliar la cartera de servicios financieros de FTFT hacia el creciente mercado de activos virtuales, dentro del marco regulatorio de Hong Kong.
Future FinTech (NASDAQ: FTFT)는 홍콩 자회사인 Future Securities가 홍콩의 Securities and Futures Commission(SFC)에 타입 1 VASP(가상자산 서비스 제공자) 허가와 타입 9 자산운용 허가를 신청하고 있다고 발표했습니다. 회사는 신청 절차를 지원하기 위해 홍콩의 저명한 컴플라이언스 컨설턴트와 협력하고 있습니다.
2010년에 설립된 Future Securities는 현재 홍콩의 타입 1, 2, 4 라이선스를 보유하고 있으며 주식, 채권, 펀드 거래 등 전통적 금융 서비스를 제공합니다. VASP 허가는 특히 전자적 플랫폼을 통한 암호화폐 거래 등 가상자산 관련 사업을 합법적으로 수행할 수 있게 해줄 것입니다.
이번 전략적 조치는 FTFT의 금융 서비스 포트폴리오를 성장하는 가상자산 시장으로 확장하면서 홍콩의 규제 체계 내에서 운영하려는 목적을 갖고 있습니다.
Future FinTech (NASDAQ: FTFT) a annoncé que sa filiale à Hong Kong, Future Securities, a déposé une demande auprès de la Securities and Futures Commission (SFC) de Hong Kong pour une licence VASP (Virtual Asset Service Provider) de Type 1 et une licence de gestion d'actifs de Type 9. La société s'est associée à un consultant en conformité de renom à Hong Kong pour l'accompagnement de la procédure.
Créée en 2010, Future Securities détient actuellement les licences hongkongaises de Type 1, 2 et 4 et propose des services financiers traditionnels tels que le trading d'actions, d'obligations et de fonds. La licence VASP permettra à la société d'exercer légalement des activités liées aux actifs virtuels, en particulier le trading de cryptomonnaies via des plateformes électroniques.
Cette initiative stratégique vise à étendre le portefeuille de services financiers de FTFT au marché croissant des actifs virtuels, tout en opérant dans le cadre réglementaire de Hong Kong.
Future FinTech (NASDAQ: FTFT) hat bekannt gegeben, dass seine Hongkonger Tochtergesellschaft Future Securities bei der Securities and Futures Commission (SFC) von Hongkong eine Type‑1 VASP‑Lizenz (Virtual Asset Service Provider) sowie eine Type‑9 Asset‑Management‑Lizenz beantragt. Das Unternehmen arbeitet dabei mit einem renommierten Compliance‑Berater aus Hongkong zusammen, der den Antragsprozess unterstützt.
Future Securities, gegründet 2010, verfügt derzeit über die Hongkonger Lizenzen Type 1, 2 und 4 und bietet traditionelle Finanzdienstleistungen wie Aktien-, Anleihen‑ und Fondshandel an. Die VASP‑Lizenz wird es dem Unternehmen ermöglichen, rechtskonform im Bereich virtueller Vermögenswerte tätig zu werden, insbesondere beim Handel mit Kryptowährungen über elektronische Handelsplattformen.
Mit diesem strategischen Schritt will FTFT sein Finanzdienstleistungsangebot auf den wachsenden Markt für virtuelle Assets ausdehnen und dabei innerhalb des regulatorischen Rahmens von Hongkong agieren.
- Expansion into virtual asset services through VASP license application
- Already holds multiple financial licenses (Type 1, 2, and 4) in Hong Kong
- Partnership with renowned compliance consultant for application process
- Strategic positioning in Hong Kong's regulated virtual asset market
- License approval is pending and not guaranteed
- Will require significant investment in compliance and risk management systems
- Entering a highly competitive and volatile virtual asset market
Insights
FTFT's VASP license application marks strategic expansion into Hong Kong's regulated crypto market, leveraging existing securities licenses.
Future FinTech is making a calculated regulatory move by applying for Hong Kong's Type 1 VASP license alongside a Type 9 Asset Management License. This strategic initiative builds upon their existing Type 1, 2, and 4 licenses held by their subsidiary Future Securities. The VASP license specifically would authorize FTFT to offer cryptocurrency trading services through electronic facilities within Hong Kong's regulatory framework.
The timing is particularly noteworthy as Hong Kong has recently established a more defined regulatory approach toward virtual assets, creating an environment where licensed operators gain significant competitive advantages. By working with compliance consultants to develop their business model and risk management capabilities, FTFT is positioning itself as an early mover in Hong Kong's regulated virtual asset space.
What's most significant here is FTFT's attempt to bridge traditional financial services with digital assets. Their subsidiary's established reputation in conventional securities (operating since 2010) could provide credibility as they venture into the more volatile virtual asset sector. This hybrid approach—leveraging traditional finance expertise while expanding into crypto—represents a measured strategy that could differentiate them from pure-play crypto companies or traditional financial institutions slow to adapt.
The regulatory clarity in Hong Kong offers FTFT potential advantages over companies operating in markets with less defined frameworks. However, the application process for these licenses is rigorous, and approval isn't guaranteed. The company will need to demonstrate robust compliance procedures and risk management systems to secure regulatory approval, which represents both a hurdle and, if successful, a potential competitive moat against less regulated competitors.
Together with FTFT's Real-World Asset division, the compliance consultant will conduct a comprehensive review of the Company's business model and risk management capabilities, and will assist in preparing application materials and a business plan for submission to the SFC of
FTFT's Future Securities has consistently upheld the principles of professionalism, innovation and stability. The firm has extensive experience and a strong reputation in traditional financial services. Its professional team is comprised of seasoned financial experts who have deep market insight and exceptional risk management capabilities, and they provide clients with diversified financial products and services including stocks, bonds, and funds. Founded in 2010, Future Securities has gained the trust and support of investors through its high-quality services and outstanding performance.
With the rapid growth of the global virtual asset market, Future Securities has recognized the immense potential and vast opportunities in this emerging field. As a new class of financial assets, virtual assets have attracted growing global attention in recent years, driving continued expansion of the market.
Upon successful acquisition of the VASP license, Future Securities will be authorized to conduct virtual asset-related business within a compliance framework. This development will not only provide clients with diversified investment options but also enhance the Company's market competitiveness and industry presence. Meanwhile, Future Securities will adhere to all of the regulatory requirements set by the SFC of
Future Securities has prioritized compliance and risk management during the application process. The firm established a dedicated team to prepare application materials while collaborating closely with professional legal and compliance advisors to ensure progress. Future Securities has actively participated in virtual asset industry seminars and discussions to gain an in-depth understanding of its regulatory policies and market trends, thereby further preparing for launch of its virtual asset business.
FTFT CEO Mr. Hu Li commented, "Future Securities' application for upgrading its Hong Kong VASP license represents not only a key strategic move for our development but it also highlights the
"Upon obtaining approval for the VASP license by the Securities and Futures Commission of
"Looking ahead, Future Securities will actively explore innovations in the virtual asset field and leverage our strength in traditional finance to build a distinctive virtual asset service platform. Simultaneously, we will continually strengthen our risk management and compliance framework, while consistently enhancing service quality and client satisfaction to contribute to the healthy development of
About Future Fintech Group Inc.
Future FinTech Group Inc. (NASDAQ: FTFT) is a comprehensive financial and digital technology service provider. The Company, through its subsidiaries, conducts brokerage and investment banking services in
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SOURCE Future FinTech Group Inc.
FAQ
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