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.

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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.

• In March, the Hong Kong Exchange said it will pilot its digital asset trading platform “Diamond” in 2022.

• 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.

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