Green Packet subsidiary gets Labuan conditional investment bank licence

PETALING JAYA: Green Packet Bhd’s wholly owned subsidiary Oasis Capital Investment Bank (OCIB) has received a conditional investment bank licence from the Labuan Financial Services Authority (LFSA) today.

The conditional investment bank licence 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. A full operating licence will be awarded by LFSA upon fulfilment of these operationalisation activities.

OCIB CEO Tan Kay Yen said OCIB will spearhead the group’s offerings within the blockchain technology space.

“We anticipate that digital assets and blockchain will have a far more disruptive impact compared to conventional fintech as it addresses the fundamental building blocks of the financial ecosystem. We see tremendous potential in this space and will strive to help our clients to benefit from this transformational technology,” Tan said in a statement.

OCIB’s aims to be an innovative forerunner in Southeast Asia’s offshore neobank scene, specialising in digital asset portfolio advisory, management services as well as bespoke structured products and services for high-net-worth individuals (HNWI), institutions’ and enterprises.

It seeks to fill in this market gap by positioning itself as a trusted gateway into the crypto finance world for HNWI and institutional investors. As an offshore investment bank, OCIB 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 said cryptocurrencies and digital assets have seen tremendous growth and adoption over the years and is now benefiting from serious participation from mainstream players such as central banks and established financial institutions.