Transaction is a pilot for future digital asset settlements to the firm
Hong Kong – 11 December 2019 – OSL Brokerage, the region’s leader in digital asset trading and a member of BC Group (stock code: 863 HK), today announced that it facilitated a payment in Bitcoin (BTC) to Deloitte Hong Kong from one of the professional services firm’s key customers, a global-leading insurer.
The payment, the first of its type received by Deloitte in Asia, was for services rendered for a strategic digital assets research project it conducted for the insurer and will serve as a pilot for future settlements to the firm.
“We’re delighted to assist Deloitte as they take their initial steps into the digital asset space,” added Ryan Miller, OSL Head of Institutional Sales. “As this new asset class continues to be adopted by institutions and professional investors alike, we see settlements in Bitcoin and other digital assets becoming standard practice.”
Value transfer is the most proven and effective use case for blockchain and digital assets, and OSL had been exploring the opportunity to pilot a proof-of-concept blockchain transfer of value transaction between institutional players for some time. The Bitcoin payment received by the international professional services firm from its customer shows that digital asset payments can be integrated into existing corporate payment ecosystems.
“This pilot transaction proves that established players in professional and financial services are seriously exploring a variety of business synergies using digital assets, including adopting digital asset settlements for different payment scenarios,” added Miller.
About OSL Hong Kong
As a subsidiary of the publicly listed OSL Group (HKEX: 863.HK), OSL Digital Securities is Hong Kong’s first and most established SFC-licensed and insured digital asset platform. Operating since 2018, the platform provides institutional-grade digital asset services to corporations, financial institutions, professional and retail investors.
OSL Hong Kong delivers services across five core domains: OTC brokerage, Omnibus broker solutions, custody, wealth management, and retail services. The OTC brokerage services provide 24/7 high-liquidity crypto trading with fiat on/off-ramp services. Custody solutions feature client-asset segregated wallet management backed by US$1 billion insurance coverage. The wealth management suite offers crypto investments to traditional investors, including tokenised treasuries, RWAs, structured crypto products, and quant investment strategies. Retail services bring institution-grade security and crypto access to professional and retail investors.
As a pioneer in bridging traditional finance and the digital asset economy, OSL Group adheres to its core concept: Open, Secure, and Licensed, empowering the next generation of global financial infrastructure. In addition to Hong Kong, OSL Group expands operations under full regulatory compliance in Japan, Australia, Europe and beyond.
For more information, visit osl.com.
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