Leading U.K management services company, Fidelity International has acquired 17 million shares of BC Technology Group Ltd., the operator of the OSL cryptocurrency company based in Hong Kong, Bloomberg reported Friday.
With the average price per BC Group shares being HK$6.50 (0.83 USD) as of February 12, according to a filing by a Hong Kong stock exchange, Fidelity invested $14.2 million (HK$110.5 million) in the company.
The investment grants Fidelity a 5.6% position as a substantial shareholder of BC Group and represents one of the investment giant’s largest foray into a cryptocurrency-related company.
Commenting on the milestone, the CEO of BC Group, Hugh Madden, reportedly wrote in an email.
We’re excited to see that world-class equity investors are increasingly participating in the fast-growing digital asset sector, and we look forward to reaching new milestones with our industry-leading institutional investors.
OSL, the cryptocurrency subsidiary of BC Group is said to be one the largest digital currency exchange in Hong Kong that targets institutional and individual investors with several services such as Software-as-a-Service (SaaS), brokerage, exchange and custody services.
The exchange claims to be the first crypto firm to apply for the Hong Kong Securities and Futures Commission’s (SFC) digital asset licensing framework. That new license will reportedly pave the way for security tokens and allow regulated asset managers to invest in the digital securities.
Crypto Firms in Hong Kong Garnering Investments
Recently, another crypto-focused financial service firm in Hong Kong, Amber Group, raised about $28 million in a Series A funding round which was led by Paradigm and Pantera Capital. The funding round also saw participation from crypto-focused venture capital funds, Coinbase Ventures, Polychain Capital, Fenbushi Capital, and Blockchain.com.
The fund raised values the company at $100 million, which is a milestone for the startup. Amber’s crypto finance solutions cater to the needs of several entities, including the electronic-based crypto market makers, crypto exchanges, decentralized finance projects, mining pools, OTC desk providers, and hedge funds.
This article is Originally posted on CoinCentral.com
Author: Ibiam Wayas