BC Technology Group is weighing the sale of its crypto exchange OSL at a valuation of 1 billion Hong Kong dollars ($128 million), according to a report by Bloomberg on Monday.
OSL offers prime brokerage, exchange and custody of crypto assets, as well as infrastructure for financial institutions to offer digital asset trading. BC Technology may elect to sell parts of OSL's business rather than the whole entity, according to the report, citing people familiar with the matter.
The people added that BC's deliberations are ongoing and there is guarantee that a deal will come to pass.
The exchange is one of two to have won crypto licenses in Hong Kong under the region's new regulatory regime introduced in June, the other being HashKey. The application process is thought to have been expensive, however, costing the companies between $12-20 million, individuals familiar with the matter told CoinDesk in August.
BC Technology did not immediately respond to CoinDesk's request for comment.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.