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Hong Kong BC Technology Group plans to sell its digital asset platform OSL at a valuation of HK$1 billion

On October 16th, according to sources cited by Bloomberg, Hong Kong-based BC Technology Group (00863) is considering selling its digital asset platform OSL, which is one of only two licensed trading platforms under the digital asset regulations introduced in Hong Kong in June of this year. BC Technology Group has expressed interest in OSL to potential buyers such as industry participants and funds, proposing a valuation of HKD 1 billion (USD 128 million). OSL's business covers major brokerage, trading, and custody services in the cryptocurrency market, as well as providing virtual asset trading infrastructure for financial institutions. Sources say that BC Technology may decide to sell only part of OSL's business, rather than the entire business. The transaction is still under consideration and the final outcome is uncertain.

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