December 21, 2020

  1. Hong Kong Grants First License to Cryptocurrency Trading Platform
  2. Major Latin American University Launches Crypto-Related Specialization
  3. SBI Acquired Crypto Firm to Create Full-Fledged Digital Asset Trading Desk
  4. Italian Insurance Giant Generali Launching Crypto Custody Service

Hong Kong Grants First License to Cryptocurrency Trading Platform

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Under Hong Kong’s current crypto regulations, registration of crypto exchanges is optional. Still, the government introduced a new crypto regulatory structure in a consultation launched in November this year that enables the SFC to oversee all centralized crypto exchanges.

A cryptocurrency trading platform just got its license in Hong Kong, first in the nation. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities to commence trading for several cryptocurrencies, including bitcoin soon.

Only professional investors under SFC’s close supervision will be served on the platform and subject to customized requirements, similar to securities brokers and automated trading venues.

OSL Digital Securities Ltd, an Asian member of the Hong Kong stock exchange-listed BC Technology Group, is licensed for Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities on 15th Dec on the SFC website.

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Major Latin American University Launches Crypto-Related Specialization

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The launch of a Financial Engineering specialization course, whose modules cover crypto and blockchain-related subjects, has been approved by one of the largest and most award-winning universities in Latin America, making it a historic milestone in the education sector of the country.

“Graduates will be able to evaluate the profitability of public and private companies, develop financing strategies; design, develop and implement innovative financial instruments and processes; design investment portfolios, measure financial risk, among others.”

The UNAM further explained that the financial engineering course is targeted at those who have completed a degree in engineering, mathematics, acting or graduated in physical mathematics and engineering from relevant professions.

The introduction of crypto-related topics into the university marks the debut in Latin America at higher-level educational institutions. The course is not a diploma course because it is a specialization for those who have already received a degree.

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SBI Acquired Crypto Firm to Create Full-Fledged Digital Asset Trading Desk

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Japanese financial group SBI Financial Services has announced the acquisition, for an undisclosed sum, of the UK-based crypto services company B2c2. This acquisition enables SBI to become one of the mainstream financial institutions with a full-fledged trading desk for digital assets.

It was reported that the two companies praised the collaboration that they hope “will create the counterparty of choice for mainstream financial companies looking to invest in cryptocurrencies.” Before the recent acquisition, SBI had acquired a minority stake in the crypto business, and that agreement opened the door for SBI’s “customers to trade through the platform of B2c2” back in July this year.

The acquisition of B2c2 presents an opportunity for SBI as it helps exchanges and fund managers make large trades in digital currencies with many more institutional investors buying bitcoin, which as a hedge against inflation.

Following this strategic partnership, SBI seeks to expand its offices with new team members from B2c2. Yoshitaka Kitao, CEO of SBI Holdings, states,

“Their (B2c2’s) vision, expertise, and offering complement SBI’s, and we look forward to working in partnership as we expand our footprint across the global markets.”

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Italian Insurance Giant Generali Launching Crypto Custody Service

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Banca Generali, Italy’s largest insurance group’s banking arm, has confirmed that it would sell its customers a cryptocurrency custody service starting next year and has acquired a stake in bitcoin wallet provider Conio to accomplish this.

Banca Generali, listed on the Italian stock exchange, is a private bank member of the principal Generali Group. It handles funds for more than 300,000 clients of over 70.4 billion euros ($85.6 billion). Most of the shares in the bank are owned by Assicurazioni Generali. Banca Generali received the Global Brands Awards, hosted by Global Brands Magazine, in April 2018. In several years, the bank has been awarded “Best Private Bank in Italy” by the FT Group’s magazines.

“Under this partnership agreement, Banca Generali will acquire a stake in Conio Inc. to support the company’s growth and the distribution of its products as part of the Banca Generali’s range of digital services offered to its customers.”

The bank will be allowed to offer Conio’s services to Banca Generali’s customers under a new commercial distribution agreement in 2021, with Banca Generali leading a $14 million funding round for Conio Inc. However, an exact date of the crypto service launch has yet to be announced.

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