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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.
Updated May 11, 2023, 6:51 p.m. Published Jul 26, 2022, 11:18 a.m.
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 .
- 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.
Read more: Animoca Brands’ Investment Portfolio Now Worth Over $1.5B
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UPDATE (July 26, 13:02 UTC): Updates tense in headline and lead.
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