HONG KONG, April 26, 2024 (GLOBE NEWSWIRE) — Hong Kong licensed and regulated digital asset exchange platform OSL Digital Securities (“OSL”) and its partner multipurpose securities brokerage firm. Solomon JFZ (Asia) Holdings Limited (“Solomon”) expands beyond the existing omnibus mediation model. This advanced partnership now includes comprehensive advisory and operational support to facilitate the in-kind purchase and redemption process essential to the successful implementation and management of Hong Kong's first Spot Crypto ETF, which will soon be launched. specially tailored for.
This enhanced partnership will allow Salomon to play a key role as a participating dealer, facilitating physical trading where investors can subscribe or redeem ETF shares directly with the underlying digital assets.
With OSL's proven expertise in secure digital asset custodians and regulated trading services, and Salomon's expert handling of financial transactions, this ETF not only adheres to the highest standards;
OSL – The first crypto asset trading platform and sub-custodian of two of the three spot crypto ETFs approved in Hong Kong
Patrick Pan, Chairman and CEO of OSL, said: “The introduction of these ETFs represents a significant enrichment of Hong Kong's financial environment, providing investment options and market opportunities that are essential to economic dynamism. “This will strengthen liquidity,” he said. At OSL, we leverage our position as the only listed digital asset company in Hong Kong to ensure our leadership through a proven track record of strict regulatory compliance and successful SOC 2 Type 2 audits. We are proud to support this vital financial innovation. ”
Solomon – First group of SFC-approved participating dealers to support in-kind purchases and redemptions of Spot Cryptocurrency ETFs in Hong Kong
Thomas Tam, CEO of SOLOWIN, commented: The approval comes just three months after the US introduced a similar ETF, attracting around US$12 billion in investments, and is a key regulation for Hong Kong's aspirations to become a global crypto asset hub. It shows the progress made in And the introduction of a physical purchase mechanism that allows investors to buy directly into ETFs using Bitcoin or Ethereum is being seen as a transformative measure to channel significant investment into the crypto asset space. ”
For more information about OSL, please visit group.osl.com.
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