(Hong Kong - August 3, 2023) - OSL , the world's first SFC-licensed and insured digital asset platform, is excited to announce that it has received an uplift to its existing license from the Securities and Futures Commission (SFC) of Hong Kong. Effective immediately, OSL offers retail investors the ability to register on its platform and buy/sell digital asset products, starting with the popular cryptocurrencies Bitcoin and Ethereum. This momentous development is a testament to OSL's unwavering commitment to compliance, regulation, and excellence in the digital asset space.
This license uplift, in line with Hong Kong's new regulatory rules, is a significant milestone not only for OSL, but for Hong Kong and the global crypto market as well. It underscores Hong Kong's forward-thinking approach to digital asset regulation and its ambition to become a leading global hub for digital assets allowing retail users to participate in one of the fastest growing asset classes.
"We are extremely proud of this achievement," said Hugh Madden, CEO of OSL. "This is a significant first-mover advantage, and a direct result of our strategy of putting regulation and compliance first. It demonstrates how regulation is the foundation of future growth and mainstream acceptance in the digital asset space."
In an environment where the crypto market has been under close scrutiny, OSL has consistently prioritized regulatory compliance and has now reaped the benefits of its strategy. This affords OSL an edge in the rapidly evolving digital asset landscape, opening up opportunities to provide retail investors with secure, regulated access to the world of digital assets.
As part of its commitment to investor protection, OSL will continue to implement stringent investor protection measures and maintain a high cold-to-hot storage ratio to ensure the security of client assets.
"This is a monumental moment not only for OSL but for the broader crypto market," added Gary Tiu, Head of Regulatory Affairs. "By granting this license uplift, the SFC has shown that it is possible for digital asset markets to be regulated and safe. We believe this will usher in a new era of growth and acceptance for digital assets, and we are excited to be at the forefront of this movement."
With this development, OSL is now well-positioned to lead the transformation of the digital asset market. As it welcomes retail investors, it remains steadfast in its commitment to excellence, compliance, and regulation, setting the stage for a more robust and secure digital asset environment.
About OSL and BC Technology Group
Backed by Asia’s leading public fintech and digital asset company, BC Technology Group (863.HK), 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 the best-in-class digital asset platform, along with a fully regulated liquidity pool. 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: osl.com and bc.group