Hong Kong-regulated OSL issues USD-denominated coupon bonds backed by Ethereum tokens

Hong Kong-based, regulated Bitcoin exchange OSL conducted a placement of USD-denominated coupon bonds backed by Ethereum tokens.

Issue size was not disclosed. Each token is equivalent to $10,000. A base coupon and a Bitcoin-linked bonus coupon are provided. Maturity is in three months.

The STO issue was placed among professional investors. Among them are Animoca Brands, Head & Shoulders Financial Group, China Fortune Financial Group, Volmart and Monmonkey Group Asset Management.

OSL Digital Securities became the first digital asset broker registered as Type 1 by the SFC, to carry out an STO, the press release said.

OSL provided the service end-to-end, acting as bookrunner, placement agent, tax and payment agent, transfer agent, registrar, settlement agent, tokenisation technology partner and trading venue.

They noted that the initiative will pave the way for the issuance and distribution of tokenised securities among licensed financial intermediaries in Hong Kong.

Earlier, in 2021, DBS Bank issued digital notes worth $11.3 million during the first STO in Singapore.

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