OSL sets global record with $1 billion Hong Kong digital asset insurance

OSL expands insurance coverage to strengthen investor protection, setting a global record and signing a three-year agreement. (Hong Kong, October 8, 2024) - OSL Group (863.HK)'s OSL Digital Securities Limited is pleased to announce a major upgrade to its digital asset custody insurance program today. This sets a new global standard in the rapidly evolving digital asset sector and takes OSL's innovation and security to new heights. **The single largest digital asset custodian with the highest insurance coverage and the longest coverage period, underwritten by an A-rated insurer** This move by OSL meets the standards of the Securities and Futures Commission (SFC), aiming to further strengthen the digital asset ecosystem and provide additional asset security assurance, demonstrating OSL's commitment to compliant product innovation and investor protection. Leveraging its strong partnership with insurance partner Canopius, this $1 billion insurance program is once again led by global insurance and reinsurance giant Canopius and the leading Lloyd's of London Syndicate. OSL CEO Brent Xu said, "This record-breaking insurance coverage raises the bar for the digital asset industry. By providing our clients with unprecedented financial protection, we are laying the foundation for OSL's growth and welcoming the next wave of digital asset innovation. It also underscores OSL's position as the most trusted, secure and forward-looking participant in the market." Canopius Product Head Nicholas Edwards added, "The scale and duration of the coverage we are providing to OSL demonstrates the insurance industry's high confidence in the reliability of their custody solutions. We are delighted to support OSL in achieving its ongoing goals, setting the highest standards for compliance in the digital asset space and using insurance as a backstop for financial protection." Paragon International Insurance Brokers Ltd. Senior Vice President Jeff Hanson said, "We have leveraged resources in the international market to inject new momentum into the digital asset industry. We are pleased to work with OSL to achieve this important milestone, the first of its kind for the industry. Our partnership with OSL is crucial to us, allowing us to provide the maximum coverage for digital asset custodians." Dan Dibden, Co-Founder of Capstone Insurance Brokers Ltd. in Hong Kong, commented, "This is an incredibly exciting moment for all the participants in this project. We are delighted to have helped OSL achieve this insurance program, realizing the efforts and dedication we have invested over the years." OSL's insurance program is fully underwritten by an A-rated insurer, highlighting its commitment to leading the development of the regulated digital asset industry, particularly in promoting the issuance of digital asset ETFs in Hong Kong. - END - **About OSL** OSL Group (863.HK, formerly BC Technology Group) is Asia's leading fintech and digital asset listed company, with its platform being the world's first digital asset platform licensed and insured by the Hong Kong Securities and Futures Commission. Established in 2018, the company has a long history in the relevant field, and its comprehensive and regulated digital asset solutions are widely recognized by the industry. OSL provides market services (brokerage, exchange and custody) and software-as-a-service (SaaS) technology solutions, offering global liquidity to institutional, professional and retail investors through its premier digital asset trading platform. OSL's secure and insured wallets ensure the safe storage and efficient trading settlement of digital assets. As the digital asset industry continues to evolve, the company is also making continuous progress. OSL's simple and customized services ensure that global clients receive compliant services in the ever-evolving digital asset environment. For more information, please visit: group.osl.com. **Media Contact** media@osl.com