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EQS TodayIR | Last Updated: 27 May, 2022 03:59 pm
SEHK: 0863
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HKD3.62
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EQS TodayIR | Last Updated: 27 May, 2022 03:59 pm

OSL Statement: SFC-HKMA Joint Circular is a Critical Tool for the Development of a Competitive Digital Asset Market in Hong Kong

New guidance from regulators allows licensed brokers and banks to offer digital asset trading services exclusively with licensed digital asset trading platform providers

Hong Kong – 28 January 2022 –  The Hong Kong Monetary Authority (HKMA) and the Hong Kong Securities and Futures Commission (SFC) issued a joint circular today, allowing registered institutions and licensed corporations to provide digital asset investment services by partnering only with SFC-licensed virtual asset trading platforms. 

This joint announcement is a critical tool which will help create competitive digital asset markets in Hong Kong and will accelerate the development and acceptance of regulated digital assets in Asia and globally. 

The clarity provided by the circular will increase the demand for digital assets in Hong Kong from licensed asset managers, banks and brokers, allowing these companies to securely onboard into the rapidly growing digital asset ecosystem. It’s not just regulated brokers and private banks in Hong Kong that will benefit from this change – this is a blueprint for operators and investors in the regional regulated digital asset ecosystem.

As an SFC-regulated digital asset platform, regulatory compliance and customer safety is built into OSL’s DNA. OSL and BC Group strongly support the policies and procedures in this circular as well as those set forth by the SFC in reference to regulated digital assets over the past several years. 

 

BC Technology Group and OSL

BC Technology Group (stock code: HK 863) is Asia’s leading public fintech and digital asset company. It is the parent company of OSL, the region’s most comprehensive licensed digital asset platform. 

OSL is the world’s first and only insured and SFC-licensed digital asset platform, providing brokerage, custody, exchange and SaaS services for institutional clients and professional investors. The company offers OTC, iRFQ and electronic trading services giving traders access to the world’s deepest liquidity pools, as well as secure and insured wallets to ensure the safekeeping of digital assets with timely transaction settlement. 

BC Group and the OSL platform are enabling institutional adoption of the digital asset class, setting standards for performance, security and compliance. 

For more information: bc.group and osl.com.

 

Contact

[email protected]