OSL becomes first SFC-licensed digital asset broker selling security tokens to professional investors with Security Token Offering in Hong Kong

• STO participants include Animoca Brands, Head & Shoulders Financial Group, China Fortune Financial Group Limited, Volmart and Monmonkey Group Asset Management Limited
• The issuance and distribution of proof-of-concept paves the way for innovative new ways of investing in regulated digital assets

HONG KONG, July 26, 2022 /PRNewswire/ — OSL Digital Securities Limited (OSL) announced today that it has become the first Type 1 digital asset broker licensed by SFC to distribute security tokens to professional investors Hong Kong in a Private Security Token Offering (STO).

Participants in the offering include Animoca Brands, Head & Shoulders Financial Group, China Fortune Financial Group Limited, Volmart and Monmonkey Group Asset Management Limited.

The STO demonstrates an innovative proof of concept for investing in regulated digital assets. This opens the door to a new market for the issuance and distribution of tokenized securities through licensed intermediaries in Hong Kong and sets the industry standard for STOs worldwide.

Each token represents a $10,000 Unit of a bitcoin-linked USD bond with a coupon rate. The bond was issued by a subsidiary of OSL’s parent company, BC Technology Group (BC Group), and BC Group also acted as guarantor of the bond. The tokens were developed with the Ethereum blockchain, have a three-month term and carry a fixed bonus coupon and one linked to Bitcoin performance.

OSL provided the end-to-end services for the STO transaction, acting as bookrunner, placement agent, tax and paying agent, transfer agent, registrar, calculation agent, tokenization technology partner and trading venue.

Co-Founder and Executive Chairman of Animoca Brands Yes Siu said, “The digital asset industry, particularly Web3 and tokenized securities, is revolutionizing and modernizing traditional financial services. Like NFTs and other digital assets, STOs have the potential to create new markets and distribution channels, and offer expanded digital ownership rights to market participants. We are very excited to participate in this placement with OSL, an innovative global leader in this space and the first licensed Type 1 digital asset broker Hong Kong.”

OSL Managing Director Wayne Trench said: “The OSL STO transaction is a viable model for security token issuance and digital token distribution by regulated operators. We designed the issuance to demonstrate the immense value and ease of distribution of a security token issued on a public blockchain. The token architecture uses smart contract technologies to enable transparent transfers of security tokens on the public blockchain between hosted and private wallets, and is fully compliant with securities laws and AML requirements.

Through the STO, OSL reaffirms its position as a pioneer in the Hong Kong Digital asset market. Blockchain-based digital securities represent the future of capital markets and financial products, and this is an important step in the adoption of this innovative and efficient technology.”

Head & Shoulders Finance Group President Dr. Stanley Choi said, “We are proud to be a part of this milestone of STO as it fits perfectly with our strong belief that blockchain technology products bring greater security and efficiency to markets and take modern financial services to a new level of innovation.” Head & Shoulders Financial Group is excited to partner with BC Group and OSL and is committed to growing the blockchain ecosystem in Hong Kong and beyond.”

Executive Director and Vice Chairman of BC Group ken lo said: “This successful STO placement is a significant milestone for Hong Kong Capital market, as it offers enormous opportunities for issuers and investors to process transactions efficiently, securely and reliably digitally based on blockchain technologies. This demonstrates our ability to provide secure digital asset solutions including deal origination, tokenization, trading and custody in a regulated framework.”

OSL Digital Securities holds a license for Type 1 (securities trading) and Type 7 (automated trading service) regulated activities related to digital assets from the Hong Kong Securities and Futures Commission (SFC), which allows it to issue digital securities and distribute security Token offerings for professional investors.

The Hong Kong Monetary Authority (HKMA) and the SFC have issued a joint circular January 28, 2022which for the first time enabled registered institutions and licensed companies to offer digital asset investment services by working only with SFC-licensed virtual asset trading platforms.

As part of the circular and with this STO, OSL has demonstrated its ability to play a pivotal role as a leading bookbuilder for licensed partner brokers and banks in future STO issuance and other digital asset transactions.

About OSL and the BC Technology Group

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

OSL is the world’s first insured SFC-licensed digital asset platform offering premium brokerage, custody, exchange and SaaS services to institutional clients and professional investors.

The company offers OTC, iRFQ and electronic trading services that provide traders with access to the world’s deepest liquidity pools and secure and insured wallets to ensure safekeeping of digital assets with timely transaction processing.

BC Technology Group and the OSL platform enable institutional adoption of the digital asset class and set the global standard for performance, security and compliance.

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

Logo – https://mma.prnewswire.com/media/1574897/OSL_BC_New_Logo.jpg

SOURCE OSL; BC Technology Group

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers