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EQS TodayIR | Last Updated: 01 Mar, 2024 03:59 pm
SEHK: 0863
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EQS TodayIR | Last Updated: 01 Mar, 2024 03:59 pm

OSL Digital Securities and Victory Securities Collaborate to Expand Digital Asset Services in Hong Kong

(Hong Kong, March 8, 2023) – OSL Digital Securities (OSLDS), the world’s first Type 1 and 7 Securities and Futures Commission (SFC)-licensed digital asset brokerage and trading platform, has entered a strategic partnership with Victory Securities Holdings Co Ltd (8540.HK), an SFC-regulated broker serving Hong kong investors. This partnership aims to expand the availability of regulated digital asset services for Victory Securities’ clients.

Winning combination in Hong Kong’s digital asset market

While OSLDS brings its comprehensive licensed platform and unique digital asset expertise, Victory Securities’ experience in serving professional investors in Hong Kong is a substantial force to the partnership. Through this collaboration, Victory Securities will have access to OSLDS’s regulated digital asset dealing services, including trading, custody, and exchange.

“Partnering with Victory Securities is an important step for OSL in expanding the reach of our institutional-grade digital asset services,” said Hugh Madden, CEO of OSL. “We believe this collaboration will bring new opportunities for Victory Securities’ clients, who will benefit from our secure, insured, and SFC-licensed digital asset platform, and contribute to the growth of the digital asset ecosystem in Hong Kong.”

“The launch of virtual asset trading services is not only an important move for Victory Securities to expand its business territories but is also in response to investors’ demand for a more diversified investment portfolio. Virtual asset has recently received increasing attention from investors as an emerging investment product and we are happy to work with OSL to provide professional virtual asset dealing services to our clients” said Kennix Chan, Executive Director of Victory Securities.

Staying ahead of the curve in the dynamic financial landscape

Recent regulatory developments, such as the joint circular issued by the Hong Kong Monetary Authority (HKMA) and the SFC on 28 January 2022, and the proposed regulatory framework by the Securities and Futures Commission (SFC) for digital asset trading platforms in Hong Kong issued on 20 February 2023, have created a more competitive and robust model to expand the digital asset market in Hong Kong.

OSLDS, as the first licensed virtual asset service provider (VASP) in Hong Kong to operate under SFC supervision for two years, has demonstrated strong support for the digital asset industry in the region. Collaboration with Victory Securities is a noteworthy example that aims to promote the adoption of digital assets and indicate how the regulated omnibus model helps industry players to enhance the digital asset ecosystem to stay ahead of the competition.

About Victory Securities

Rooted in Hong Kong for 50 years, Victory Securities (stock code: 8540.HK) offers comprehensive and fully-licensed financial services. It is licensed by the SFC to conduct Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities in Hong Kong.

Victory Securities has also recently obtained consent from the SFC to (i) provide virtual asset dealing services under an omnibus account arrangement; (ii) provide virtual asset dealing services by way of introducing eligible clients to licensed virtual asset platforms for direct trading; (iii) market and distribute virtual asset-related private funds to eligible clients; (iv) provide securities brokerage services to eligible clients with respect to virtual asset-related exchange-traded funds (including exchange-traded virtual asset derivative funds); and (v) provide virtual asset advisory services.

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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 insured and SFC-licensed digital asset platform. Founded in 2018, the company has a long history in the sector and is recognized by many as the leader in providing comprehensive regulated and licensed digital asset solutions.

We offer Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients and professional investors access to the best-in-class virtual asset platform, as well as the world’s deepest liquidity pools. Our secure 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 do we. Our simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.

For more information, visit: osl.com and bc.group

Press contact – OSL [email protected]