Green Packet’s OCIB Plunges Into Crypto With Conditional Investment Bank LicenseAugust 26, 2021 0 comments
Oasis Capital Investment Bank (OCIB), a fully-owned subsidiary of Green Packet has been awarded the conditional investment bank license from the Labuan Financial Services Authority (LFSA).
The company is looking to specialise in digital asset portfolio advisory, management services as well as bespoke structured products and services for High Net Worth Individuals (HNWI), institutions’ and enterprises.
The conditional investment bank license is a greenlight by LFSA for OCIB to begin fulfilling operational conditions such as setting up the required processes and technology platforms in accordance with regulatory requirements.
OCIB said that a full operating license will be awarded by LFSA upon fulfilment of these operationalisation activities.
As an offshore investment bank, OCIB added that it will aggregate, deploy, and optimise clients’ funds and digital assets portfolios to ensure that clients can benefit from this emerging asset class while being fully aware of the potential risks.
OCIB will also provide conventional investment banking services such as Private Wealth and Corporate Advisory and solutions in working capital management and underlying trade services to its clients.
Tan Kay Yen, Chief Executive Officer of OCIB said,
“Our decision to participate in this high-growth specialised investment sector is aligned with Green Packet’s 5.0 strategy and our massive transformation purpose, which is to improve the way we live through continuous digital innovations.
OCIB will spearhead the Group’s offerings within the Blockchain technology space. We see tremendous potential in this space and will strive to help our clients to benefit from this transformational technology.”