OSL, a serious digital asset platform in Asia and a unit of Constancy-backed BC group, has been formally licensed by the Securities and Futures Fee of Hong Kong.

In response to a Dec. 15 announcement, the brand new license permits OSL Digital Securities to function regulated brokerage and automatic buying and selling providers for digital belongings. The information comes shortly after the SFC agreed in precept to situation OSL a license in August 2020. In response to the announcement, OSL has efficiently undergone the SFC’s strict vetting necessities.

At launch, OSL Digital Securities’ digital asset buying and selling platform will assist main digital belongings like Bitcoin (BTC) and Ether (ETH), in addition to choose safety token choices, or STOs.

The platform will provide insurance coverage safety on digital belongings like Bitcoin, holding the belongings in client-segregated wallets. OSL will preserve know-your-customer and anti-money laundering controls to mitigate the chance of market misconduct by way of market surveillance, the announcement reads.

Matt Lengthy, head of distribution and prime at OSL, emphasised that licensed corporations are the way forward for digital belongings and capital markets. The exec additionally burdened that OSL is the primary mover globally by way of secured regulatory approvals:

“OSL now stands aside from the competitors as an progressive first mover, because the world’s solely listed, SFC-licensed, Large 4 audited and insured digital asset platform for establishments {and professional} buyers to securely onboard into the digital asset economic system.”

Along with the Hong Kong licenses, OSL has additionally utilized to the Financial Authority of Singapore for a digital asset license underneath the nation’s Fee Providers Act, the announcement notes.

Earlier this yr, Constancy Worldwide, a subsidiary of United States asset administration big Constancy Investments, accomplished a direct funding in BC Group, a Large-4-audited firm and the operator of OSL. Constancy bought 17 million shares for a 5.6% possession place, reportedly investing greater than $14 million within the firm.