Hong Kong-based digital asset platform OSL Asset Management Limited said it has obtained a license from the local Securities and Futures Commission (SFC) to offer investment products in blockchain, artificial intelligence, and Web3 technologies seen as key to developing the next interactive Internet.
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Fast facts
- OSL said in a press release that the license allows the company to conduct Types 1, 4 and 9 regulated activities in Hong Kong, which are dealing in securities, advising on securities, and asset management, according to the SFC website.
- OSL Asset Management plans to focus on private equity investing in blockchain, AI and Web3 technologies and will launch its first fund in a few months, according to the release. No further details on the fund were given.
- OSL exchange, a unit of Hong Kong-listed BC Technology Group Co., said it is the first crypto trading platform to be licensed by the SFC to provide market services to institutional and professional investors in Hong Kong.
- Hong Kong is developing new rules for crypto exchanges and service providers that includes a licensing regime set to go live in June, all seen as part of an initiative by the city to reclaim its position as a blockchain and crypto hub in Asia.
- More than 80 foreign and Chinese companies have expressed interest in establishing crypto operations in the city, Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said in a speech at the Aspen Digital Web3 Investment Summit in March.
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