Today Bloomberg reported that Hong Kong’s BC Technology is exploring the sale of its crypto platform OSL for around HK$1 billion ($128m), citing sources. OSL includes a digital asset exchange – one of only two with Hong Kong licenses. Additionally, it provides prime brokerage and custody services. The company might be sold as a whole or in part. Update: BC Technology said the Bloomberg report is false.
BC Technology is Standard Chartered’s partner in Zodia Markets, the crypto brokerage and exchange, and owns just shy of a quarter of Zodia’s stock. The bank holds the remainder.
Following the Bloomberg news, BC Technology’s stock price hardly moved. It is currently valued at HK$1.8 billion with most of its recent income coming from OSL. Interim accounts to late June show 83% of its revenues derived from digital assets and blockchain, with the balance from real estate.
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