OSL, a serious digital asset platform in Asia and a unit of Constancy-backed BC group, has been formally licensed by the Securities and Futures Fee
OSL, a serious digital asset platform in Asia and a unit of Constancy-backed BC group, has been formally licensed by the Securities and Futures Fee of Hong Kong.
In response to a Dec. 15 announcement, the brand new license permits OSL Digital Securities to function regulated brokerage and automatic buying and selling companies for digital belongings. The information comes shortly after the SFC agreed in precept to concern OSL a license in August 2020. In response to the announcement, OSL has efficiently undergone the SFC’s strict vetting necessities.
At launch, OSL Digital Securities’ digital asset buying and selling platform will help main digital belongings like Bitcoin (BTC) and Ether (ETH), in addition to choose safety token choices, or STOs.
The platform will supply insurance coverage safety on digital belongings like Bitcoin, holding the belongings in client-segregated wallets. OSL will keep know-your-customer and anti-money laundering controls to mitigate the danger of market misconduct by way of market surveillance, the announcement reads.
Matt Lengthy, head of distribution and prime at OSL, emphasised that licensed corporations are the way forward for digital belongings and capital markets. The exec additionally confused that OSL is the primary mover globally by way of secured regulatory approvals:
“OSL now stands other than the competitors as an modern first mover, because the world’s solely listed, SFC-licensed, Huge Four audited and insured digital asset platform for establishments {and professional} buyers to securely onboard into the digital asset economic system.”
Along with the Hong Kong licenses, OSL has additionally utilized to the Financial Authority of Singapore for a digital asset license below the nation’s Cost Companies Act, the announcement notes.
Earlier this yr, Constancy Worldwide, a subsidiary of United States asset administration big Constancy Investments, accomplished a direct funding in BC Group, a Huge-4-audited firm and the operator of OSL. Constancy bought 17 million shares for a 5.6% possession place, reportedly investing greater than $14 million within the firm.