Waybridge (CEO Jong-wook Oh) , a domestic virtual asset prime brokerage service company, announced that it has signed a strategic partnership with Hong Kong Victory Securities for virtual asset business cooperation.
The two companies signed a memorandum of understanding (MOU) to develop virtual asset structured products and cooperate in business in the Korean and Hong Kong markets. Under this agreement, Waybridge will be in charge of consulting and research for Victory Securities to launch virtual asset structured products in the Hong Kong financial market. This is significant as it was done at a time when the global virtual asset market is rapidly growing within the institutional system, with Bitcoin spot exchange-traded fund (ETF) products actively traded in major financial markets such as the United States and Hong Kong.
By completing the domestic virtual asset service provider (VASP) registration in 2024, Waybridge has laid the foundation for business expansion in line with national regulations. Recently, Waybridge launched the virtual asset investment platform 'Dolfin' based on its technological prowess to act as a prime broker in preparation for the gradual entry of domestic corporations and institutions into the virtual asset market.
Victory Securities is a traditional financial company with a Hong Kong securities and futures operation license, and has recently expanded its business area to virtual asset trading, structured products, advisory and portfolio management services in addition to traditional financial services.
“This partnership will be an important milestone in Waybridge’s global expansion strategy,” said Oh Jong-wook, CEO of Waybridge. “Based on the know-how gained from our experience in the Hong Kong digital asset finance market, following the U.S. and Europe, we will be able to contribute to the development of the domestic market as well.”
The two companies are cooperating to develop the virtual asset ecosystem based on their respective expertise, sharing business opportunities and resources and aiming to strengthen competitiveness.
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