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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 mentioned in a press release on Tuesday. The corporate, a part of BC Group, a public expertise and digital asset firm, will present institutional clients with “entry to a world liquidity pool,” the corporate mentioned. Fernando Martinez, OSL’s head of Americas, instructed 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. “Till the tip of the 12 months, we have now eliminated charges for skilled traders and establishments that need to begin interacting with our trade,” Martinez mentioned, including that the trade doesn’t function with native currencies however immediately with U.S. {dollars}. In current months, giant monetary providers corporations within 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 Inventory Alternate (BMV) introduced that it’s contemplating itemizing crypto futures on its derivatives trade. Martinez mentioned that OSL, the primary and solely digital asset firm licensed by Hong Kong’s Securities and Futures Fee, would compete in opposition to regional platforms which can be at the moment offering comparable providers. OSL primarily gives brokerage and trade providers, and to a lesser extent, custodial providers, Martinez mentioned. He believes that institutional crypto funding move will quickly equal retail funding move in Latin America.
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