Crypto Exchange OSL Sold Security Tokens to Professional Investors
The Ethereum-developed tokens represented $10,000 worth of a coupon-rate USD bond, which is linked to the performance of bitcoin.
Jul 26, 2022 at 11:18 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MUKYDNLJYRBZTOTTQBEGI3Y6FE.jpg)
Hong Kong (Shutterstock)
Jamie Crawley is a CoinDesk news reporter based in London.
Hong Kong-based crypto exchange OSL Digital Securities has distributed security tokens in a private security token offering (STO) with participants including Animoca Brands.
- With the offering, OSL has become the first digital asset broker with Type 1 registration from Hong Kong-regulator Securities and Futures Commission (SFC) to conduct an STO with professional investors, according to an announcement on Tuesday.
- Along with noted non-fungible token (NFT) and metaverse investor Animoca Brands, participants included Head & Shoulders Financial Group, China Fortune Financial Group Ltd., Volmart and Monmonkey Group Asset Management.
- In an STO, an issuer sells tokenized digital securities or "security tokens," which can later be sold on security token exchanges. NFTs are digital tokens that represent the ownership of either a physical or digital asset.
- The Ethereum-developed tokens will represent $10,000 coupon-rate USD bond, which is linked to the performance of bitcoin (BTC).
- The STO is meant to act as a proof-of-concept for regulated digital asset investment, paving the way for issuance and distribution of tokenized securities among licensed financial intermediaries in Hong Kong.
UPDATE (July 26, 13:02 UTC): Updates tense in headline and lead.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Jamie Crawley is a CoinDesk news reporter based in London.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7TNYFUKXSNFPJKOGNDXB37IMEU.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CDSHIUNSCNB2ZI2ADFNE6XH3V4.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CBHADEGAYJHGXHDDZVZTIHA3JA.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/XM35FFSDXJHX7J4V4IP3ILWWMM.png)