Digital asset firm OSL has announced the launch of its asset management business, OSL Asset Management (OSLASM), which will be launching its first fund is in the coming months, focusing on blockchain solutions, artificial intelligence (AI), and Web 3.0 technologies, the company announced in a statement.
OSLASM has been granted a license by Hong Kong’s Securities and Futures Commission (SFC) to conduct Types 1, 4 and 9 regulated activities, which are dealing in securities, advising on securities, and asset management.
Founded in 2018, OSL, a subsidiary of BC Technology Group, is the first virtual asset trading service platform licensed by the SFC, and is one of only two entities currently licensed in Hong Kong to facilitate security token offerings, trading, and dealing.
OSLASM said it aims to generate long-term sustainable value by investing in private equity of emerging companies where AI and blockchain capabilities enhance investment returns.
Ken Lo, deputy chairman of BC Group, expressed his excitement about the Type-9 asset management license, which he said "reflects the company's commitment to compliance and excellence in the digital asset space," adding, "The license empowers OSLASM to explore new frontiers in blockchain and AI, creating value for clients and shaping the industry's future."
Hong Kong will begin a new licensing regime for virtual-asset service providers on June 1 and plans to allow retail investors to trade major tokens like Bitcoin and Ether.
Earlier this week, Hong Kong Monetary Authority chief executive Eddie Yue warned crypto companies attracted by the city's new digital asset hub to expect strict regulation.
Stay ahead of the game by signing up as a member of Blockhead and never miss a beat in the world of digital assets.