港股高開，科網股集體走強
OSL/BC Technology Group (863 HK) Monthly Investor Report - February
Dear investors:
In February, since the Hong Kong Monetary Authority and the Hong Kong Securities Regulatory Commission issued a joint circular on digital assets in January,OSL's compliance business OSL Digital Securities is flooded in with numerous inquiries。The circular provides clear guidelines for banks and brokerage firms to cooperate with licensed platforms to participate in the compliant digital asset market. OSL is currently the only digital asset trading platform in Hong Kong that holds a license from the Hong Kong Securities Regulatory Commission.
In response to market demand, OSL held an online briefing on the circular on February 18, with the participation of more than 200 institutions and professional investors.
On February 28, Bitcoin closed at $43,000 and Ethereum at around $2,600. The last few weeks of February reflected continued market fluctuations brought about by recent macroeconomic and geopolitical news, including the Federal Reserve appearing to raise interest rates at least once in March.
Business progress
In February, BC Technology Group shares were included in the VanEck Digital Transformation ETF and the Amplify Digital & Online Trading ETF. Previously, the CoinShares Blockchain Global Equity Index (BLOCK Index) also included group stocks.
Additionally, on February 24, BC Technology Group, Archax (regulated by the UK Financial Conduct Authority) and InvestAX (with a Singapore Monetary Authority license) announced the joint establishment of the International Security Token Offering Alliance (ISTOA)) and formed a global working group to focus on blockchain digital securities (i.e. securities tokens, STOS).
ISTOA is an international organization dedicated to creating and promoting blockchain digital securities technology, compliance, and corporate governance interoperability. ISTOA's vision is to create a large-scale global STO market with interoperable listings and high liquidity. Multiple types of brokers, exchanges and custodians provide convenient digital securities services to serve different customers and jurisdictions.
Coindesk also published an article on the news, which quoted BC Tech Group CEO Hugh Madden as a statement.
The STO working group meets regularly and can accept new members. 有意者可发送邮件至contact@istoa.org for inquiries.
OSL's trading volume over the past three months is as follows:
OSL trading volume declined somewhat in February, in line with the downward trend in global exchange volume. This may be due to many market and macro factors, including fewer days in the month; Lunar New Year holidays; growing uncertainty about the Russian-Ukrainian conflict; and concerns about the Federal Reserve's interest rate hike.
News updates
In February, the leadership of OSL and BC Technology Group published the following unique opinions and management analysis in well-known media and marketing events:
On February 4, OSL was mentioned in The Asset's article on the Hong Kong Monetary Authority's stablecoin consultation paper.
On February 8, I was interviewed by TVB Pearl TV's “The Face of Money” to discuss the rapid acceptance of digital assets by large financial institutions.
On February 10 and 11, Hong Kong financial media Caihua, Economic Connect, and Asdaq Financial Network reported that Fidelity International increased its stock holdings of BC Technology Group by 596,000 shares.
On February 14, Diao Jiajun, head of regulatory affairs at BC Technology Group, was interviewed by Hong Kong Letter and Ming Pao Finance to discuss the impact of the Hong Kong Securities Regulatory Commission - Hong Kong Monetary Authority joint circular.
On February 17, OSL Singapore Director Kanny Lee and Global Trading Director Ryan Rabaglia attended the Singapore Government Investment Corporation's “Frontline” private forum seminar.
On February 24, OSL Digital Securities Director Jean-David Péquignot attended the Cryptocurrency Regulation Asia Summit “No longer market neutral: asset management managers and cryptocurrency position opening”.
On February 21, Hedge Week issued a press release about OSL becoming a Talos partner.
Other digital asset market trends
In February, the world continued to accelerate the process of accepting digital assets. On February 1, India announced plans to develop its own digital currency and tax crypto assets. The goal is in line with the global virtual finance industry. Although this news has raised fears, unease, and doubts in the digital asset trading market, it is still widely regarded as a positive effect, representing the strength of global regulation and acceptance of this asset class. On February 18, Coindesk reported that the UAE will issue cryptocurrency licenses in order to become the center of the growing digital asset industry.
Just as Russia invaded, the Ukrainian government legalized cryptocurrencies; the New York Stock Exchange also submitted trademark applications for proprietary digital asset exchanges; US legislatures in Illinois and Georgia introduced tax incentives for cryptocurrency mining; and the London Stock Exchange announced that it would pay $325 million to acquire digital asset trading service provider TORA.
In the 45th “Super Bowl,” the Los Angeles Rams defeated the Cincinnati Tigers 23-20. Among them, there were quite a few digital asset advertising sponsors, including Larry David's FTX spot ads and Coinbase's floating QR code ads. The media scrambled to report it, and sparked quite a bit of discussion on social media.
On February 17, it was reported that Berkshire Hathaway invested more than 1 billion US dollars to buy cryptocurrencies in 2021, completely overturning Buffett's position that he is not optimistic about cryptocurrencies. Meanwhile, DBS Bank, which is optimistic about digital assets, announced plans to launch a cryptocurrency trading service for retail investors by the end of 2022.
In the fund sector, Sequoia Capital announced on February 19 that it will launch a new fund worth 500 million US dollars, focusing on cryptocurrencies. This is also Sequoia's first industrial fund, which will mainly invest in “liquid tokens.” In Hong Kong, on February 21, the first “metaverse-themed” ETF was listed on the Hong Kong Stock Exchange, the Southern East England Metaverse Concept ETF.
Many banks, companies, and well-known entrepreneurs continued their foray into the metaverse during this month. J.P. Morgan Chase's Onyx division opened a lounge in a virtual space and said this emerging market could be worth $1 trillion. Other notable metaverse participants in February include, but are not limited to: Manchester City FC, Snoop Dogg, Disney, Zaha Hadid, McDonald's, and Nvidia.
If you have any questions about BC Tech Group OSL's recent business developments, digital asset markets, regulatory developments, or monthly investor reports, feel free to contact BC Tech Group and the OSL team.
Best wishes!
Dave Chapman
Executive Director
BC Technology Group (Hong Kong Stock Exchange: 863)$OSL GROUP (00863.HK)$
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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