Our pioneering tokenization project with Huochain!; OSL achieves a world and industry first; The Bahamas are ready to compete in the fintech space
Week Ending December 20th
Hi everyone!
In case you missed, we had a rather substantial announcement this week! That is, we, along with our partners at Huochain, are going to develop a fully realized token economy for an industrial park in Chongqing, China. Among the first of its kind, this project serves to demonstrate the advantage that the blockchain and tokenization can bring to the table. Read here for the full press release!
And now, onto the news for the week!
1. OSL has just achieved something huge
The Hong Kong Securities and Futures Commission has granted its first license to deal in securities and operate an automated trading service to OSL, a digital asset platform under BC Technology Group. This world first makes OSL the only “‘SFC-licensed, listed, digital asset wallet-insured, Big-4 audited digital asset trading platform for institutions and professional investors.’”
OSL isn’t just stopping with this feat either, as it has announced that it has put in to be licensed by the Monetary Authority of Singapore. As of now, however, it’s safe to say that this is a huge development for OSL, as it can now “operate regulated digital asset brokerage and automated trading services, which include Bitcoin [BTC] and Ethereum [ETH] along with Security Token Offerings [STOs].” (AMBCrypto)
2. The Bahamas is ready to compete in the Fintech industry
The Bahamas took the latest step in its embrace of digital assets this week when it passed DARE, or the Digital Assets and Registered Exchanges Bill.
What this sets up is a regulatory atmosphere that facilitates a compliant industry and spurs the growth of fintech companies in the Bahamas, in that they will “enjoy the credibility of being licensed and functioning under a comprehensive regulatory regime”. (International Investment)
1. Union Bank of the Philippines and Standard Chartered Ventures test tokenized bonds
Two well-established financial institutions, Union Bank of the Philippines and Standard Chartered Ventures are in the testing phase of a blockchain platform that will handle tokenized bond issuance. The end goal of this is to demonstrate the advantages of tokenization and the blockchain, and how they can open up asset classes to more investors. (Ledger Insights)
2. Sygnum tokenizes shares before its IPO
After announcing “its ‘bank-grade’ token issuance solution” earlier this month, digital asset bank Sygnum capital has tokenized its shares as it prepares for its IPO.
Synonym is regulated both in Switzerland and Singapore, and plans to list its IPO on the SIX Digital Exchange and the “Singapore digital asset exchange announced last week as a joint venture between SIX and SBI.” (Ledger Insights)
1. Bitcoin breaks past $20,000
Now crypto news is not something we normally cover, but this week was one for the ages. In a show of strength and a demonstration of how much the market has matured, Bitcoin broke past $20,000 USD, and sits at around $23,000 at the time of writing.
It is important to note not just the price, but everything supporting that price and the bull run that made it so. Week after week, we have witnessed institutional investors buying up large amounts of Bitcoin. We have seen investors increasingly go long on Bitcoin as well. These factors, amongst the numerous other supporting factors, show that crypto assets have very much matured and will see increased adoption.
Regulatory News
1. “Hong Kong issues first crypto license to OSL”
2. “Bahamas passes digital assets legislation for ‘compliant industry’”
Industry Updates
1. “Standard Chartered, UnionBank test tokenized blockchain bonds”
2. “Digital asset bank Sygnum tokenizes own shares ahead of future IPO”
Investment and Financing
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For questions and business inquiries, contact us at info@redblockcap.com
About RedBlock
RedBlock Inc is a digital investment and fintech firm leveraging blockchain technology for asset digitization and management, from issuance to secondary liquidity. Its global network of capital market participants, including issuers, broker-dealers, secondary exchanges, funds, liquidity providers and custodians, are supported by its end-to-end blockchain-powered asset management platform. RedBlock also manages an investment fund to support companies in its ecosystem that align with its investment thesis. With a growing track record and pipeline, the RedBlock team hails from top tier global investment banks, venture capital firms and blockchain technology companies.
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