{"id":18270,"date":"2024-04-26T13:12:22","date_gmt":"2024-04-26T13:12:22","guid":{"rendered":"https:\/\/allonlinebanglanewspapers.com\/news\/osl-and-solomon-strengthen-partnership-to-facilitate-hong-kongs-innovative-spot-crypto-etfs-with-in-kind-subscription-and-redemption\/"},"modified":"2024-04-26T13:12:22","modified_gmt":"2024-04-26T13:12:22","slug":"osl-and-solomon-strengthen-partnership-to-facilitate-hong-kongs-innovative-spot-crypto-etfs-with-in-kind-subscription-and-redemption","status":"publish","type":"post","link":"https:\/\/allonlinebanglanewspapers.com\/news\/osl-and-solomon-strengthen-partnership-to-facilitate-hong-kongs-innovative-spot-crypto-etfs-with-in-kind-subscription-and-redemption\/","title":{"rendered":"OSL and Solomon Strengthen Partnership to Facilitate Hong Kong\u2019s Innovative Spot Crypto ETFs with In-kind Subscription and Redemption"},"content":{"rendered":"
\n

HONG KONG, April 26, 2024 (GLOBE NEWSWIRE) — Hong Kong licensed and regulated digital assets exchange platform OSL Digital Securities<\/strong> (\u201cOSL\u201d), alongside its partner versatile securities brokerage Solomon JFZ (Asia) Holdings Limited<\/strong> (\u201cSolomon\u201d), is expanding beyond their existing omnibus brokerage model. This advanced partnership now includes comprehensive advisory and operational support, specifically tailored to facilitate the in-kind subscription and redemption processes essential for the successful deployment and management of Hong Kong\u2019s first Spot Crypto ETFs, ready to be launched soon.<\/p>\n

This enhancement of the partnership allows Solomon to play a key role as a participating dealer, facilitating these in-kind transactions that enable investors to subscribe to or redeem ETF shares directly with the underlying digital assets.<\/p>\n

OSL\u2019s robust expertise in secure digital asset custodian and regulated trading services, alongside Solomon\u2019s adept handling of financial dealing, ensures that this ETF not only adheres to the highest standards.<\/p>\n

OSL – the first virtual asset trading platform and sub-custodian for two out of three approved spot crypto ETFs in Hong Kong<\/strong><\/p>\n

Patrick Pan, Chairman of the Board & CEO of OSL, addressed, \u201cThe introduction of these ETFs marks a significant enrichment of Hong Kong\u2019s financial landscape, enhancing investment options and market liquidity which are crucial for our economy\u2019s dynamism. At OSL, leveraging our status as the only publicly listed digital assets company in Hong Kong, we ensure leadership through stringent regulatory compliance and a proven track record, evidenced by our successful SOC 2 Type 2 audit. We’re proud to support this pivotal financial innovation.\u201d<\/p>\n

Solomon – the first batch of SFC-approved participating dealer to support physical in-kind subscription and redemption for spot crypto ETFs in Hong Kong<\/strong><\/p>\n

Thomas Tam, Chief Executive Officer of SOLOWIN, commented, \u201cWe are excited to play a crucial role in the launch of the first spot Bitcoin and Ethereum ETF in Hong Kong. The approval, coming just three months after the U.S. introduced similar ETFs which attracted around US$12 billion in investments, marks a significant regulatory advancement for Hong Kong\u2019s aspirations to be a global virtual asset hub. And the introduction of the in-kind subscription mechanism that allows investors to buy into the ETF using Bitcoin or Ethereum directly is viewed as a transformative vehicle for channeling significant investment into the virtual asset space.\u201d<\/p>\n

For more information about OSL, visit: group.osl.com<\/p>\n\n <\/div>\n","protected":false},"excerpt":{"rendered":"

HONG KONG, April 26, 2024 (GLOBE NEWSWIRE) — Hong Kong licensed and regulated digital assets exchange platform OSL Digital Securities (\u201cOSL\u201d), alongside its partner versatile securities brokerage Solomon JFZ (Asia) Holdings Limited (\u201cSolomon\u201d), is expanding beyond their existing omnibus brokerage model. This advanced partnership now includes comprehensive advisory and operational support, specifically tailored to facilitate […]<\/p>\n","protected":false},"author":2,"featured_media":18271,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/1b6545e1-3e70-4565-8041-dfa27455d779","fifu_image_alt":"","footnotes":""},"categories":[11],"tags":[],"class_list":["post-18270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/18270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/comments?post=18270"}],"version-history":[{"count":0,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/18270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media\/18271"}],"wp:attachment":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media?parent=18270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/categories?post=18270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/tags?post=18270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}