OSL Announces Strategic Extension of SOC 2 Type 2 Report Validity and Transition to Bi-Annual Issuance

• Extension of SOC 2 report validity by four months and shift to bi-annual issuance to meet diverse client needs.

• The initiative aligns with industry best practices, enhancing transparency and compliance in the digital asset space.

(Hong Kong, 12 Mar 2024) - OSL, the forefront digital asset platform within OSL Group (863.HK), formerly known as BC Technology Group, today announced a pivotal update to its SOC 2 Type 2 report process. In a move designed to provide greater support to its corporate clientele and align with prevailing industry standards, OSL is extending the validity period of its SOC 2 reports by an additional four months and transitioning to a bi-annual issuance schedule.

"Our decision to extend the SOC 2 report validity and to issue these reports bi-annually reflects our proactive stance on meeting our client's evolving needs," said Michelle Zhang, Chief of Staff at OSL. "This strategic update ensures we remain at the forefront of compliance and transparency, reinforcing our commitment to excellence and trust in the digital asset sector."

The SOC 2 Type 2 certification, undertaken by a renowned Big Four accounting firm, underscores OSL's dedication to the highest standards of security, availability, and confidentiality across its Custody and Automated Trading Services (ATS). By extending the report's validity and adopting a bi-annual issuance rhythm, OSL caters to the diverse operational timelines of its corporate clients, providing them with timely, transparent insights into the platform’s operational integrity and compliance frameworks.

"In a rapidly advancing digital asset market, we must lead by example in setting standards for security and compliance," said Patrick Pan, Executive Director of the Board & CEO at OSL. "The enhancements to our SOC 2 reporting process are a testament to our dedication to innovation and our vision to pioneer the regulated evolution of the digital asset industry."

This strategic update underscores OSL's commitment to operational excellence and regulatory compliance, offering institutions enhanced confidence and support as they navigate the digital asset landscape.