OSL, a digital asset platform and member of BC Technology Group, has received the license from Hong Kong’s Securities and Futures Commission (SFC) to operate regulated brokerage and automated trading services for digital assets following a rigorous vetting process. They previously received an approval in principle in August 2020.

Upon going live, OSL Digital Securities will offer customers safe, secure and compliant trading access to Bitcoin, Ethereum and other high-quality cryptocurrencies, along with select security token offerings (STOs).

In addition to the Hong Kong license, OSL has also applied to the Monetary Authority of Singapore for a digital asset license under the Payment Services Act.

“Institutional investment in Bitcoin and other digital assets has rapidly accelerated over the past several years, and has entered a new era of growth in Hong Kong with licensing. Institutions, and other professional investors, including HNWIs and family offices, can now trade digital assets with the region’s most comprehensive and trusted digital asset platform in OSL.

 

Because the framework is under the auspices of a leading global regulator and modeled after existing licensing for financial services, clients can trade with confidence under the protections and safeguards to which they are accustomed,”

said Wayne Trench, CEO of OSL.

“Licensed entities are the future of digital assets and capital markets in the digital age and professional investors, hedge funds and family offices are now rapidly increasing portfolio allocations to digital assets such as Bitcoin.

 

OSL now stands apart from the competition as an innovative first mover, as the world’s only listed, SFC-licensed, Big 4 audited and insured digital asset platform for institutions and professional investors to securely onboard into the digital asset economy.”

added Matt Long, Head of Distribution and Prime at OSL.

In addition to traditional protection measures, OSL customers trading under the licenses will benefit from insurance protection on digital assets, including Bitcoin, held in client segregated wallets. Customers will undergo rigorous KYC and AML controls, and OSL will mitigate the risk of market misconduct through market surveillance, as well as transaction monitoring and additional digital-asset-specific controls.

In the coming weeks, OSL will communicate with its professional investor client-base and initiate customer onboarding so clients may position themselves to trade when OSL begins to accept trades on its platform.