Hong Kong Crypto Exchange OSL Launches Operations in Latin America

The exchange is looking to address growing demand among institutional investors.

Oct 20, 2021 at 2:10 a.m. UTC
Updated Oct 20, 2021 at 7:29 p.m. UTC

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 México, the company said Tuesday.

The company, part of BC Group, a public technology and digital asset company, will provide institutional customers with “access to a global liquidity pool,” the company said.

Fernando Martinez, OSL’s head of Americas, told CoinDesk the company was addressing the growing demand for crypto services among institutional investors in Latin America and will serve regional funds, family offices and private banks.

“Until the end of the year, we have removed fees for professional investors and institutions that want to start interacting with our exchange,” Martinez said, adding that the exchange does not operate with local currencies but directly with U.S. dollars.

In recent months, large financial services firms in the region have launched a number of investment products. In June, blockchain investment firm QR Capital started trading its bitcoin exchange-traded fund (ETF) on the Brazil stock exchange. A month later, the firm listed an ether ETF on the same exchange after winning approval from regulators.

Earlier this month, the Mexican Stock Exchange (BMV) announced it is considering listing crypto futures on its derivatives exchange.

Martinez said OSL, the first and only digital asset company licensed by Hong Kong’s Securities and Futures Commission, would compete against regional platforms that are currently providing similar services.

OSL primarily offers brokerage and exchange services, and to a lesser extent, custodial services, Martinez said. He believes institutional crypto investment flow will soon equal retail investment flow in Latin America.




DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Andrés Engler is a CoinDesk business reporter based in Argentina, where he covers the Latin American crypto ecosystem.