OSL Group

OSL Group
Company typePublic
SEHK: 863
Founded2003; 22 years ago (2003)
Headquarters
Hong Kong
Key people
Kevin Cui (CEO)
Websitegroup.osl.com

OSL Group is a Hong Kong-based publicly listed company providing services in brokerage, digital assets exchange, over-the-counter trading, and custody of digital assets.[1][2]

History

OSL Group was founded as BC Technology Group in 2003 by Bin Fang. Since its founding, OSL has received investments from various investors, including Fidelity.[3]

In 2013, OSL was listed on the GEM Board of the Hong Kong Stock Exchange. Two years later, in 2015, it was moved to the main board of the Hong Kong Stock Exchange.[4][5]

In 2018, OSL expanded its services to include digital assets. On 15 December 2020, OSL became the first asset trading platform licensed by the Securities and Futures Commission of Hong Kong.[2][6][7] Subsequently, it hired one of the Big Four accounting firm as its auditor.[8]

In January 2023, Hugh Madden was named as the chief executive officer (CEO) of the company.[2]

In August 2023, OSL became one of the first two companies to receive approval from the Securities and Futures Commission of Hong Kong to operate cryptocurrency exchanges for retail investors.[9][10][11]

In November 2023, BGX acquired a 30 percent stake in OSL Group.[12]

Operations

OSL provides services in brokerage, digital asset exchange, over-the-counter (OTC) trading, and digital asset custody. Its brokerage services include OTC and Request for Quote (RFQ) transactions, while the exchange services offer a platform for trading digital assets. In the area of custody, OSL also acts as a sub-custodian for Hong Kong spot Crypto ETFs. Additionally, through Omnibus, OSL is working with Interactive Broker and Victory Securities.[13]

References

  1. ^ OSL Group quote Retrieved 1 November 2024.
  2. ^ a b c Yiu, Pak (20 January 2023). "Head of Hong Kong cryptocurrency exchange OSL steps down". Nikkei. Retrieved 1 November 2024.
  3. ^ Butts, Dylan (19 April 2023). "Hong Kong digital asset platform OSL to launch personalised AI trading bot". South China Morning Post. Retrieved 1 November 2024.
  4. ^ OSL Group Retrieved 1 November 2024.
  5. ^ Butts, Dylan; Haldane, Matt (17 October 2023). "BC Technology denies it is selling OSL crypto exchange as stock plummets amid challenges for Hong Kong licensing". South China Morning Post. Retrieved 1 November 2024.
  6. ^ Haldane, Matt (5 February 2024). "SFC reminds crypto investors to be wary of unlicensed platforms in final month to apply under Hong Kong scheme". South China Morning Post. Retrieved 1 November 2024.
  7. ^ "Lists of virtual asset trading platforms". SFC. 17 October 2023. Retrieved 1 November 2024.
  8. ^ Junyi, Yu (26 August 2020). "中国香港证监会跨出历史性一步 亚洲首家数字资产交易平台有望"诞生"" [The Hong Kong Securities and Futures Commission has taken a historic step. The first digital asset trading platform in Asia is expected to be "born"]. People's Daily.
  9. ^ Butts, Dylan (4 August 2023). "HashKey and OSL receive Hong Kong's first approvals to operate crypto exchanges for retail investors". South China Morning Post. Retrieved 1 November 2024.
  10. ^ "HK crypto exchange OSL weighs sale at HK$1b valuation". The Standard. 16 October 2023. Retrieved 1 November 2024.
  11. ^ Tam, Olivia (1 June 2023). "Crypto Exchange OSL Applies for HK Digital Asset Retail Trading". Retrieved 1 November 2024.
  12. ^ Shen, Xinmei (15 November 2023). "Owner of Hong Kong crypto exchange OSL gets US$91 million from firm linked to Bitget, which is exiting the market". South China Morning Post. Retrieved 1 November 2024.
  13. ^ "OSL Group Limited: Shareholders Board Members Managers and Company Profile | KYG1106B1095 | MarketScreener". www.marketscreener.com. Retrieved 1 November 2024.