🚀 Dmall Inc Announces Strategic Acquisition Plans
#DmallInc #StrategicAcquisition #HongKong #SecuritiesAndFuturesOrdinance #Type4 #Type5 #Type9 #Type1 #VirtualAssetTrading #ForesightNews
According to Foresight News, Dmall Inc's board has announced the submission of a non-binding letter of intent for the potential acquisition of two licensed entities under Hong Kong's Securities and Futures Ordinance, Chapter 571. One target company is licensed for Type 4 (advising on securities), Type 5 (advising on futures contracts), and Type 9 (asset management) regulated activities, while the other holds a Type 1 (dealing in securities) license. As of the announcement date, no binding agreements have been signed, and negotiations on the terms are ongoing. The potential acquisition is viewed as a strategic move to swiftly enter the regulated financial services sector. It aims to lay the groundwork for upgrading Type 1, Type 4, and Type 9 licenses to offer virtual asset trading services. The company plans to enhance these licenses post-acquisition to develop its core virtual asset business. The board emphasized that the terms and conditions of the potential acquisition are still under discussion.#DmallInc #StrategicAcquisition #HongKong #SecuritiesAndFuturesOrdinance #Type4 #Type5 #Type9 #Type1 #VirtualAssetTrading #ForesightNews
🚀 VDX Receives Licenses to Operate Virtual Asset Services in Hong Kong
#VDX #VictoryFintech #HongKong #DigitalAssets #SecuritiesAndFuturesCommission #CryptoLicenses #Type1 #Type7 #AutomatedTradingServices #DigitalAssetCustody #AML #CTF #VirtualAssetPlatform #FinancialInstitutions
Digital asset trading platform VDX announced today that Victory Fintech Company Limited has been granted licenses by the Hong Kong Securities and Futures Commission under the Securities and Futures Ordinance. According to Foresight News, these licenses allow the company to conduct Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities. Additionally, VDX Custody Limited has been licensed under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to offer digital asset custody services. These licenses enable VDX to operate a virtual asset trading platform in Hong Kong and provide infrastructure and related services to licensed financial institutions.#VDX #VictoryFintech #HongKong #DigitalAssets #SecuritiesAndFuturesCommission #CryptoLicenses #Type1 #Type7 #AutomatedTradingServices #DigitalAssetCustody #AML #CTF #VirtualAssetPlatform #FinancialInstitutions