Crypto Shake-Up: Is Hong Kong’s OSL Exchange On The Market For $128 Million?

Within the vast terrain of Asia’s crypto exchanges, OSL, operating under the aegis of Hong Kong’s BC Technology Group Ltd., has proved to be a standout, primarily because of its regulatory adherence. However, as recent revelations suggest, this acclaimed crypto platform may soon change hands, causing a stir in the crypto community.

Particularly, Bloomberg has revealed that BC Technology Group Ltd. is mulling over the potential sale of its celebrated crypto platform, OSL. It’s worth noting that OSL is one of the duo of exchanges privileged with a license according to the digital-asset guidelines introduced by the city in June.

How To Get Free Crypto  

Exploring Options, Valuations, And Potential Divestitures

According to Bloomberg, citing sources intimate with the ongoing discussions, the valuation estimates being considered for OSL hover around HK$1 billion, equivalent to approximately $128 million.

This valuation has emerged after BC Technology purportedly reached out to potential buyers, which includes established entities in the crypto space and investment funds.

Notably, OSL’s collection of services extends to offering prime brokerage, crypto custody, and a business infrastructure tailored for financial institutions aiming to venture into virtual asset trading.

Given the multifaceted nature of the exchange, Bloomberg reported, citing people familiar with the matter that BC Technology may also be weighing the possibility of divesting parts of OSL rather than offloading the entire business. 

Coinbase Banner  

In response to the rumors about the potential sale, a BC Technology spokesperson maintained the firm’s stance on refraining from commenting on market speculations.

Financial Performance And Regulatory Navigations 

Furthermore, a delve into BC Technology’s interim report offers some context in the company’s performance over the years. Notably, BC Technology’s net loss decreased to HK$95 million for the half-year concluding in June, a marked improvement from the loss of over HK$300 million from the corresponding period in the prior year.

The report further reveals that OSL’s blockchain and digital assets platform remains the primary revenue generator for BC Technology. In addition, OSL’s trading volume declined, shrinking to HK$112.6 billion in the first half of 2023 from its previous year.

While BC Technology’s market value witnessed a significant surge, nearly doubling to approach HK$1.9 billion since its August low, it still lags by 80% from its peak achieved in June 2021.

FreeBitcoin Banner  

A chart illustrating BC Technology shares performance over the years. | Source: Bloomberg

On the regulatory front, OSL has retracted its application for a digital asset license in Singapore. Nevertheless, according to Bloomberg, the exchange has plans to present a “revised submission.” This change in strategy also means some Singapore clients are anticipated to transition to the Hong Kong exchange.

The global crypto market cap value on the 1-day chart. Source: Crypto TOTAL Market Cap on

Featured image from Unsplash, Chart from TradingView

Go to Source
Author: Samuel Edyme

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.