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OSL Exchange Aspiring to be Digital Asset Powerhouse

BC Group’s OSL is a crypto exchange targeting individual and institutional investors for brokerage, trading, and custody services. Now, however, the exchange is seeking to establish itself as a powerhouse of digital assets both within the Asia and US regions. This comes per a press release made by Monsoon on Tuesday, who they have established a partnership with to see this through.

Pushing For Global Crypto Incorporation

The deal in question is aiming to combine the deal flow, intellectual property, blockchain capabilities, as well as large-scale investors of Monsoon with OSL, folding it up into one neat format. It should be noted that the partnership entails the DraperDragon Fund, as well as BSN’s CarbonBlue and Cross Creek Media. Through this, OSL is planning to drive the digitization of money and assets forward within these regions.

The Monsoon Blockchain stands as a blockchain protocol based on Ethereum. The main goal for Monsoon is to leverage smart contracts in order to provide cloud service providers a more efficient marketplace.

With this deal between OSL and Monsoon, both parties will seek to explore the various opportunities there are in order to accelerate the drive towards a complete digitalization of money, assets, as well as currencies.

The Many Hands At Play

OSL stands as one of Hong Kong’s formidable digital asset platforms. It provides its clients with brokerage, custody, and exchange services to various professional and institutional investors. The exchange manages more than $1.5 billion in transactions every month by virtue of crypto trading.

In recent times, Fidelity Investments’ spin-off company, Fidelity international, invested into the BC Group, which is the cryptocurrency exchanges operator for OSL, based in Hong Kong. With the custodial accounts included, the firm recorded $8.3 trillion in assets under administration, a significant increase when one looks at its numbers in 2018, having been recorded at $6.7 trillion then.

Creating Many new Forms of Crypto

Monsoon and OSL will work in tandem in the launch of multiple forms of digital assets and tokens. This includes tokens for media and telecommunications, as well as branded assets within the Monsoon ecosystem, the Monsoon Token included. In recent times, Monsoon has made a partnership with Dixinong, the largest phone retailer within China. This caused waves within the community, as Dixintong managed to generate $2.5 billion in reported revenues for 2019.

Alongside this, Monsoon will work in collaboration with the Blockchain Service Network (BSN), which launched in Mainland China on the 25th of April, 2020. BSN itself will be available for global commercial use on the 25th of June, 2020. It will mark a new step in the worldwide incorporation of blockchain technology.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.