Hong Kong, one of the world’s most heavily regulated jurisdictions on digital assets, has just issued the first crypto license to cryptocurrency trading platform OSL, a member project of BC Technology Group.
OSL Digital Securities, a digital platform of Asian origin, intended for trading and commerce with cryptocurrencies, , becomes the first cryptocurrency and digital asset trading platform to receive the SFC license of the Hong Kong Securities and Futures CommissionWith this license, OSL becomes the world's first Big-4 listed, insured and audited cryptocurrency platform.
As stated by the SFC on its official website, SFC licenses will only be granted to those persons, companies, entities or corporations that are duly qualified, and can demonstrate their suitability and competence to comply with the Securities and Futures Ordinance of the region. Therefore, with the recent approval of the license by the regulator, OSL can now provide regulated financial services to its clients and users. Through this license, OSL is legally authorized to carry out activities of Type 1, for the securities trading, and to carry out activities of Type 7, which allows you to offer trading services to customers.
OSL is Asia's leading trading platform for cryptocurrencies and digital assets and also a member of BC Technology Group, which is listed on the stock exchange under the stock code 863 HK.
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A long and productive path
The OSL cryptocurrency and digital asset trading platform began operating openly to the public in March, after a long list of tests to verify the operability of its trading, asset custody, and other services. brokerage, among others. In addition, the platform was also the first to submit its license application to the Hong Kong regulator, in order to comply with the new regulations and standards on digital assets of the Securities and Futures Commission (SFC) and offer a solid foundation for its institutional clients globally.
Although the license was approved by the regulator in August of this year, it has only now been granted to the company, officially making it the first to receive such a license from the Hong Kong SFC.
Likewise, in the statement issued by BC Group, the company points out that the license, which allows it to operate “regulated brokerage and automated trading services for digital assets“The SFC’s digital asset licensing system” was granted after the company opted to submit to the SFC’s strict digital asset regime in order to successfully meet the regulator’s rigorous research requirements.
As we well know, China is one of the countries with the strictest regulations on digital assets and the trading and trading activities carried out in these markets, so companies awaiting approval from the Hong Kong SFC must meet high standards to ensure safe and reliable trading access to their clients and users.
Bitcoin, Ethereum and STO offerings among new services
With the new license, and once it is operational, OSL will be able to offer its clients “Safe, secure and compliant business access” with well-known and widely used cryptocurrencies such as Bitcoin (BTC) y Ethereum (ETH), as well as other cryptocurrencies in high demand in the markets. Likewise, OSL will be able to offer its clients selected security token offerings, also known as STO.
Furthermore, the services offered by OSL will only be available to institutional clients and qualified investors. Wayne Trench, CEO of OSL, stated that the SFC is applying the same high level of regulation that exists in traditional securities markets to digital assets, making it one of the most comprehensive and user-friendly jurisdictions for institutional and professional investors, and providing them with the same level of security and confidence, guaranteeing the protections and safeguards that these investors are accustomed to in traditional markets.
“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, OSL.”
Institutional investment today
Analysts estimate that much of the value growth that Bitcoin is currently experiencing is due to the large institutional participation in digital markets that exists today. In 2020 alone, Bitcoin has seen the arrival of almost $1.000 billion in investment from just 3 major institutional players: microstrategy, Square y Mass Mutual; MicroStrategy's investment being the most significant so far, with around $775 million invested in BTC. This is a fact that OSL CEO Trench highlights.
Trench stated that institutional investment in Bitcoin and other digital assets has accelerated rapidly in recent years, and has now entered a new era of growth in Hong Kong thanks to the regulator's approved licenses. With these words, the OSL CEO suggests that 2021 is looking promising for the future of Bitcoin, as, through his regulated company, he will be able to further incentivize institutional participation within this important and innovative digital ecosystem.
Continue reading: Hong Kong regulator requires licenses for all exchanges in its jurisdiction
