According to a Bloomberg story published on Monday, BC Technology Group is considering selling its cryptocurrency exchange, OSL, for a price of $128 million, or one billion Hong Kong dollars.
OSL provides infrastructure for financial institutions to enable digital asset trading, as well as prime brokerage, exchange, and custody of crypto assets. The article, which cited sources familiar with the subject, states that BC Technology may decide to sell portions of OSL’s operations rather than the company as a whole.
The sources said that BC is still in the midst of negotiations and that there is no assurance that an agreement would be reached.
HashKey and the exchange are the only two recipients of cryptocurrency licences in Hong Kong under the new regulatory framework that was implemented in June. However, the application procedure is believed to have been costly, costing the corporations anywhere from $12 to $20 million.