Clarification Statement
On 7 May 2020, a press release was issued and subsequent media coverage commented on the relationship between BC Group and its Group company, OSL, and Monsoon Blockchain Partners. This statement clarifies inaccuracies in the press release and media coverage.
BC Group, like other innovative fintech businesses, routinely engages in confidential exploratory and preliminary discussions with third parties in relation to potential business development opportunities. As is common practice, such discussions are usually conducted under confidentiality agreements or preliminary agreements to protect the interests of parties.
In the present case, such preliminary confidential discussions had occurred between BC Group Monsoon Blockchain Partners. However, contrary to incorrect recent reporting, BC Group and OSL have not entered into any deal or formal transaction with Monsoon Blockchain Partners to create, issue or launch digital assets and/or tokens, or to develop any blockchain-related projects.
About OSL
Backed by Asia’s leading public fintech and digital asset company, OSL Group (863.HK), formerly BC Technology Group, OSL is the world’s first SFC-licensed and insured digital asset platform. Founded in 2018, OSL has an established history in the sector and is recognised by many as the leader in providing comprehensive regulated and licensed digital asset solutions.
OSL offers Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients in addition to professional and retail investors access to global liquidity through its best-in-class digital asset platform. OSL’s secured and insured hot and cold wallet infrastructure also ensures the safekeeping of digital assets with timely transaction settlements.
As the digital asset industry continues to evolve, so does OSL. OSL’s simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.
For more information, visit: group.osl.com
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