Hong Kong – 18 August 2020 – BC Technology Group (BC Group), Asia’s leading listed (stock code: 863 HK) digital asset and fintech company and parent company of OSL, today announced that it has acquired the core intellectual property assets of blockchain engineering firm Enuma Technologies, and on-boarded the Enuma team, including CEO Antoine Cote, further bolstering the Group’s engineering strength.
The acquisition includes bridgepoint.io, a software-as-a-service (SaaS)-based digital asset portfolio management system, market data infrastructure, and algorithmic pricing and lending platform with blockchain integration, which will supplement BC Group’s OSL platform product offerings to regulated asset managers, and will eventually be integrated into OSL’s deep liquidity pools.
BC Group CEO Hugh Madden said: “As an innovative company in a fast-moving space, we are always on the lookout for strategic growth opportunities, whether through joint-ventures, M&A or senior leadership hires. Through this acquisition, we’ve been fortunate to enhance our team while simultaneously building out our technology suite, further strengthening our platform-driven business model.”
Cote has more than 20 years of experience as a serial entrepreneur and engineer, including the last five as the co-founder and CEO of Enuma. He is a former 12-year veteran of Microsoft, where he led large engineering teams in the United States and China, founded the Microsoft R&D Center in Shanghai and was awarded 14 design patents from the United States Patent Office.
“I’m excited to be joining BC Group, bolstering the already market-leading OSL platform on a global stage,” said Cote. “The potential growth of digital assets is truly exponential as institutional adoption accelerates.”
BC Group CIO Usman Ahmad added: “With the integration of bridgepoint, we are poised to empower institutions with highly accurate, real-time market data and portfolio management technologies. This will be a fantastic complement to our already market-leading software capability.”
Increasing regulatory clarity and entry into digital assets by forward-thinking banks, funds and investors supports the rapid expansion of the asset class. In recent months, several major banks and financial institutions across the world have announced plans to support digital asset products. BC Group and its OSL platform are focused on servicing the growing institutional digital asset client segment.
BC Group COO Phillip Pon commented: “We’re thrilled to welcome Antoine and the Enuma team to BC Group and OSL. The addition of these leading blockchain professionals will be a boon to our business and will also further enhance our already strong engineering team, putting us in prime position for success now and in the future.”
OSL was the first to apply for the Hong Kong SFC’s Type 1 and 7 digital asset trading platform licences. The company has also applied to the Monetary Authority of Singapore for a digital asset license under the Payment Services Act.
Institutional acceptance and adoption is already underway in the market, as evidenced by the Group’s recent financial results. In its interim results announcement on 12 August 2020, BC Group stated it had experienced a year-on-year revenue increase of 47%, driven mainly by record annualized trading volumes of USD28 billion achieved during the first six months of the year.
About BC Group and the OSL Platform
BC 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 digital asset platform. OSL is Asia’s premier institutional gateway to global digital asset capital markets, and provides Software-as-a-Service, brokerage, exchange and custody services for institutions and professional investors.
BC Group is ‘Big-Four’-audited, and fully compliant with industry leading anti-money laundering and know-your-customer standards.
BC Group and the OSL platform are enabling institutional adoption of the digital asset class, setting standards for performance, security and compliance.
Enuma is one of the region’s strongest and most successful developers in terms of blockchain security and smart contracts and the company has successfully designed and executed a number of high profile projects including blockchain platforms, asset exchanges, payment,and security solutions for enterprises across the US, Europe and Asia.