Hong Kong’s BC Technology Group is contemplating the sale of its cryptocurrency platform, OSL, one of the only two exchanges licensed under the city’s new digital asset regulations, according to insiders. The potential valuation for OSL stands at HKD1bn (USD128m). OSL offers prime brokerage, exchange, and custody services for the cryptocurrency market, and provides infrastructure for financial institutions to engage in virtual-asset trading. BC Technology might opt to sell segments of OSL rather than the entire business. Although discussions are underway, a finalised deal remains uncertain. This move comes amid a challenging environment for crypto in Hong Kong, with a decline in crypto demand following last year’s market turmoil and the recent scandal at the unlicensed JPEX exchange.
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