Fidelity International Invests $6M in Firm Behind Hong Kong's OSL Crypto Exchange

BC's OSL exchange is the first crypto brokerage to receive Hong Kong regulators' blessing.

AccessTimeIconJan 12, 2021 at 4:46 p.m. UTC
Updated Sep 14, 2021 at 10:54 a.m. UTC

Fidelity Investments' international subsidiary has increased its investment BC Technology Group Ltd, the operator of Hong Kong's first licensed cryptocurrency exchange OSL.

  • Regulatory filings indicate Fidelity International (FIL Limited) purchased 3.3 million shares of BC Group for HK$52.3 million (US$6.7 million) on Jan. 6, bringing its ownership stake to 6.29%.
  • Fidelity previously held 5.29% of BC Group, having put $14 million in the Hong Kong crypto exchange operator early last year.
  • BC Group raised HKD697 million (approximately US$90 million) last week through a top-up share placement.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC