Australian exchange Mine to leverage BC Group’s full suite of trading solutions, adopting ANXONE’s white-label exchange and intending to roll out BC Group’s custody offering
Hong Kong – 8 May 2019 – BC Group (00863.HK), a Hong Kong-listed company and parent company of ANXONE and OSL, today announced that Mine, an Australian digital asset exchange, will adopt ANXONE’s white label trading solution.
This milestone comes as the improving outlook for digital assets draws a growing number of professional and institutional traders into the asset class, driving demand for increasingly sophisticated trading solutions and services that go beyond the capabilities of most exchanges.
“The demands of professional and institutional investors go beyond what most exchanges in the digital asset space can offer,” explained Usman Ahmad, Chief Information Officer of BC Group. “A growing number of venues like Mine are opting to source white-label solutions that incorporate leading-edge technology with speed and security to deliver a sophisticated experience for their customers.
“We are also proud that Mine intends to offer secure coverage for digital assets via
ANXONE Custody, providing the highest degree of asset protection to their clients.”
Grant Colthup, CEO of Mine, explained: “Adopting solutions offered by BC Group for our customers is a giant leap forward for our exchange. In one move we have brought in house one of the world’s fastest trade matching engines, military grade security incorporating multilayer approval protocols and integrated regulatory compliance capabilities.
“Looking further ahead, we plan to roll out the ANXONE Custody solution to protect our clients from fraudulent activity that could lead to the loss of digital assets.”
Credible insured custody solutions aim to eliminate one of the last remaining hurdles to digital asset adoption by professional and institutional investors, most of whom have sat on the sidelines to date due to regulatory and compliance roadblocks.
BC Group’s custody offering has insurance arranged by Aon, who coordinated a group of International underwriters to insure BC Group’s hot and cold wallets against third-party hacks.
“Aon is pleased to announce the placement of an insurance policy covering the theft of digital assets of BC Technology, one of the leading digital asset custodians in Asia. The BC Technology team has spent considerable time educating the insurance market about their security protocols protecting clients’ digital assets. This process resulted in insurers committing capacity to the product designed by Aon to insure both hot and cold stored digital assets.” explained Murray Wood, Head of Financial Specialties, Asia at Aon.
BC Group has been at the forefront of offering professional-grade digital asset services, solutions and platforms, in the process pushing the boundaries of what has previously been available in the asset class.
BC Group is a listed hold company (HKSE Stock Code: 0863). BC Technology is the Group’s shared services provider, the operator of its wallet solutions and is the insured counterparty.