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 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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