CoinDesk Analysis Team
CoinDesk
The exchange is looking to address growing demand among institutional investors.
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 in a statement on 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 that 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 of a number of new 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 that it is considering listing crypto futures on its derivatives exchange.
Martinez said that 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 that institutional crypto investment flow will soon equal retail investment flow in Latin America.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.