Hong Kong-Based OSL Digital Securities Receives License Uplift to Enable Retail Trading of Bitcoin and Ethereum

OSL Digital Securities Restricted (“OSL Digital Securities”), a wholly-owned subsidiary of BC Know-how Group Restricted (Inventory Code: 863), has been granted an uplift to its present license by the Securities and Futures Fee (SFC) of Hong Kong. This quick change permits retail buyers to register on its platform and commerce in style cryptocurrencies Bitcoin and Ethereum.

The license uplift aligns with Hong Kong’s new regulatory guidelines, marking a considerable milestone not just for OSL Digital Securities and its dad or mum firm, BC Know-how Group, but additionally for Hong Kong’s place as a forward-thinking hub for digital asset regulation.

This growth is seen as a testomony to the Group’s dedication to compliance, regulation, and excellence within the digital asset area. The Board of BC Know-how Group views this as a big first-mover benefit, reflecting the Group’s technique of prioritizing regulation and compliance. It additional emphasizes how regulation is the muse of future development and mainstream acceptance within the digital asset area.

As a part of its dedication to investor safety, the Group will proceed to implement stringent investor safety measures and keep a excessive chilly to sizzling storage ratio to make sure the safety of shopper belongings. This transfer positions OSL Digital Securities to steer the transformation of the digital asset market, setting the stage for a extra sturdy and safe digital asset surroundings.

The license uplift is seen as a big step in Hong Kong’s ambition to turn into a number one international hub for digital belongings, permitting retail customers to take part in one of many fastest-growing asset courses. It underscores Hong Kong’s progressive method to digital asset regulation.

BC Know-how Group Restricted, included within the Cayman Islands with restricted legal responsibility, operates by way of its subsidiaries, together with OSL Digital Securities. The corporate’s newest announcement was made on a voluntary foundation to tell shareholders and potential buyers of the most recent details about the Group.

On the identical day, August 3, 2023, HashKey Change asserted that it’s the first licensed digital asset alternate for retail customers in Hong Kong. The improve of its Sort 1 and Sort 7 licenses permits the platform to increase providers to retail customers. Safety measures embrace 98% of funds in chilly storage, and the platform has launched a compliant OTC buying and selling service.

HashKey Change has additionally partnered with Customary Chartered Financial institution and onboarded senior professionals to boost providers.

Picture supply: Shutterstock

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