By OSL Head of Institutional Sales Ryan Miller
OSL is proud to announce that its SFC-licensed digital asset brokerage, OSL Digital Securities, acted as the trade execution and custody partner for Hong Kong-listed Meitu, Inc. (HKEX: 1357) (Meitu) and facilitated its latest digital asset treasury transaction, a purchase of approximately 175 units of Bitcoin with a total value of USD10 million.
The transaction follows OSL Digital Securities’ 15 March 2021 “go-live” with execution of the first customer trades via its licensed trading desk. OSL Digital Securities became the first and only firm to receive a license for Type-1 (dealing in securities) and Type 7 (automated trading service) regulated activities related to virtual assets (digital assets) from the Hong Kong Securities and Futures Commission (SFC) on 15 December 2020.
OSL Digital Securities was selected as the trade execution and custody partner for the Meitu transaction on the strength of its institutional-grade regulatory compliance and security.
“Friction in investing in digital assets such as cryptocurrencies is reducing rapidly with clearer regulatory frameworks and seasoned professionals joining the blockchain industry from the traditional financial sector,” said Meitu Chief Financial Officer Gary Ngan. “As a Hong Kong Listed Company, we are excited to work with OSL Digital Securities which is the first digital asset exchange licensed by the SFC.”
About OSL and BC Technology Group
Backed by Asia’s 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 and only insured and SFC-licensed digital asset platform, providing prime 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 the global standard for performance, security and compliance.
OSL’s vision is to lead the regulated, institutional evolution of the digital asset market. Accordingly, the OSL platform provides institutional-grade financial services directly to professional counterparties for digital asset brokerage, automated trading (i.e. exchange), and custody.