Financial giant Fidelity invests more in crypto, invests $ 14 million in HKL OSL operator

Global asset management company Fidelity International has invested $ 14 million in Hong Kong-based BC Group, an operator of the cryptocurrency exchange OSL.


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According to public disclosure on Friday, Fidelity International bought 17 million shares of BC Group at a price of HK $ 6.50 ($ 0.83) per share, approximately 5.6% of BC Group.

The stock purchase is part of a $ 36 million rights issue announced by BC Group in January. Relevant documents from the Hong Kong Stock Exchange show that the group issued 19 million shares on February 12, making Fidelity International a direct investor in the Hong Kong company.

BC Group Chief Financial Officer Steve Zhang said,

" This placement further proves that major institutional investors are entering the digital asset space . This strengthens our belief in BC Group and OSL; mainstream adoption of cryptocurrencies is inevitable, and leading financial companies are committed to the foundation of institutional quality Facilities, compliance companies to invest and regulatory standards. "

OSL is an institution-centric cryptocurrency exchange and provides a brokerage, escrow and software as a service platform for digital assets. It also recently applied for a license under the Digital Assets Framework of the Hong Kong Securities and Futures Commission.

BC Group CEO Hugh Madden said:

"We are excited to see world-class stock investors increasingly participating in the fast-growing digital asset space, and we look forward to reaching new milestones with industry-leading institutional investors."

Fidelity Digital Assets, the cryptocurrency arm of Boston-based financial giant Fidelity, has expanded its cryptocurrency trading and escrow services to European companies to facilitate the investment. However, Fidelity's cryptocurrency division only serves institutional investors such as hedge funds, family offices and market intermediaries.

The new company already has institutional-grade cryptocurrency-related services, including escrow products, to protect assets and execute services 24 hours a day, 7 days a week.