Hong Kong-based digital asset trading platform OSL has started selling security tokens to institutional investors via a private placement, with the first purchasers including blockchain game company Animoca Brands, according to a press release on Tuesday.

See related article: Chinese logistics network plans US fundraise via tokenized offerings

Fast facts

  • Each security token represents a US$10,000 bond with a fixed-rate coupon and a bonus coupon linked to Bitcoin price movements, valid for three months; the tokens are based on Ethereum.
  • Institutional buyers also include Head & Shoulders Financial Group, China Fortune Financial Group Ltd., Volmart, and Monmonkey Group Asset Management.
  • OSL obtained licenses for operating a virtual asset exchange from the Hong Kong Securities and Futures Commission (SFC) in December 2020.
  • Another Hong Kong-based digital asset service provider, Hash Key Group, received approval for virtual asset trading platform licenses from SFC in April this year.

See related article: Huobi applies for trading license with Hong Kong SFC