Hong Kong – 6 January 2021 – BC Technology Group (stock code: 863 HK), Asia’s leading public technology and digital asset company, is pleased to announce that it has entered into an agreement to raise HKD697 million (approximately USD90 million) in a top-up share placement, with Morgan Stanley appointed as the sole placing agent, and participation from a strong roster of institutional investors.
With completion of the placement, the Group will continue to expand the reach and capability of its leading institutional digital asset platform OSL, which provides prime brokerage, custody, exchange and software-as-a-service (SaaS) to institutions and professional investors. The transaction further affirms the Group’s institutional-focused strategy, positioning it to lead the digital asset trading market globally.
“The digital asset market experienced a significant shift in 2020, with regulatory clarity and institutional investment driving market capitalization to new all-time highs,” said OSL CEO Wayne Trench. “With the participation of established institutional investors in this placement, we are seeing more evidence that digital assets are attracting significant attention from major traditional finance brands and we believe this will continue to accelerate going forward. The market will continue to grow in the coming months and years and we are excited to be on the front line of the development of this industry.”
BC Group’s OSL Digital Securities was the first to apply for and be granted a license for Type 1 (dealing in securities) and 7 (providing automated trading services) regulated activities specific to digital assets under the Hong Kong Securities and Futures Commission’s (SFC) regulatory regime, and boasts a large roster of institutional clients. In December 2020, the Group also announced that it is providing technology services to DBS Bank.
“The placement is a major milestone and the next step in the rapid growth of the Group’s OSL digital asset platform,” continued Trench. “It allows us to invest in the tools to reach more institutional customers around the globe while also continuing to scale our SaaS solution.”
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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