HONG KONG, April 26, 2024 (GLOBE NEWSWIRE) -- SOLOWIN HOLDINGS (Nasdaq: SWIN) ("SOLOWIN" or the "Company"), a securities brokerage company that offers comprehensive financial services primarily to Chinese investors, today announced that the Company, through its subsidiary, Solomon JFZ (Asia) Holdings Limited ("Solomon"), strengthened the partnership with OSL Digital Securities ("OSL"), the digital asset platform of OSL Group (863.HK) – Hong Kong's only publicly listed company fully dedicated to digital assets, to facilitate the in-kind subscription and redemption processes essential for the successful deployment and management of Hong Kong's first spot virtual asset exchange-traded funds ("ETFs").
Solomon is the first batch of SFC-approved participating dealer of this innovative in-kind subscription and redemption for spot virtual asset ETFs in Hong Kong. As a participating dealer, Solomon will facilitate the in-kind transactions, enabling investors to subscribe to or redeem ETF shares directly with the underlying digital assets, thereby significantly enhancing both the liquidity and accessibility of digital asset investments.
Mr. Thomas Tam, Chief Executive Officer of SOLOWIN, noted, "Through our partnership with OSL and various regulatory entities, we are participating in the establishment of new standards for investment and compliance in the virtual asset sector in Hong Kong. These efforts are crucial for advancing the local digital asset market, spurring innovation, and attracting more inbound investments."