Hong Kong Crypto Exchange OSL Launches Operations in Latin America

0
75

OSL, a Hong Kong-based digital asset buying and selling platform, has began providing its trade providers to skilled and institutional traders in Argentina, Brazil, Colombia and México, the corporate said in an announcement on Tuesday.

The firm, a part of BC Group, a public know-how and digital asset firm, will present institutional prospects with “access to a global liquidity pool,” the corporate stated.

Fernando Martinez, OSL’s head of Americas, advised CoinDesk that the corporate was addressing the rising demand for crypto providers amongst institutional traders in Latin America and can serve regional funds, household workplaces and personal 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 stated, including that the trade doesn’t function with native currencies however instantly with U.S. {dollars}.

In latest months, giant monetary providers companies in the area have launched of a variety of new funding merchandise. In June, blockchain funding agency QR Capital began buying and selling its bitcoin exchange-traded fund (ETF) on the Brazil inventory trade. A month later, the agency listed an ether ETF on the identical trade after successful approval from regulators.

Earlier this month, the Mexican Stock Exchange (BMV) introduced that it’s contemplating itemizing crypto futures on its derivatives trade.

Martinez stated that OSL, the primary and solely digital asset firm licensed by Hong Kong’s Securities and Futures Commission, would compete in opposition to regional platforms which are presently offering comparable providers.

OSL primarily provides brokerage and trade providers, and to a lesser extent, custodial providers, Martinez stated. He believes that institutional crypto funding stream will quickly equal retail funding stream in Latin America.