Hong Kong Crypto Trade OSL Launches Operations in Latin America
OSL, a Hong Kong-based digital asset trading platform, has started offering its exchange services to professional and institutional investors in Argentina, Brazil, Colombia and Mexico, the company said in a statement on Tuesday.
The company, which is part of BC Group, a publicly traded technology and digital asset company, will provide institutional clients with “access to a global liquidity pool,” the company said.
Fernando Martinez, Head of Americas at OSL, told CoinDesk that the company was addressing the growing demand for crypto services from institutional investors in Latin America and would serve regional funds, family offices and private banks.
“By the end of the year, we had eliminated fees for professional investors and institutions that want to interact with our exchange,” said Martinez, adding that the exchange does not operate in local currencies, but directly in US dollars.
In the past few months, major financial services companies in the region have launched a number of new investment products. In June, blockchain investment firm QR Capital began trading its Bitcoin Exchange Traded Fund (ETF) on the Brazilian stock exchange. A month later, the company listed an Ether ETF on the same exchange after gaining regulatory approval.
Earlier this month, the Mexican Stock Exchange (BMV) announced that it was considering listing crypto futures on its derivatives exchange.
Martinez said OSL, the first and only digital asset company licensed by the Hong Kong Securities and Futures Commission, would compete with regional platforms currently offering similar services.
OSL primarily provides brokerage and exchange services and, to a lesser extent, custody services, Martinez said. He believes that the institutional crypto investment flow will soon match the retail investment flow in Latin America.