Owner of Hong Kong crypto exchange OSL secures $90M investment

BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.

BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14.

This strategic investment will involve the subscription of new shares under a specific mandate, subject to approval by shareholders, the announcement notes.

According to the firms, the investment marks a testament to OSL’s commitment to setting new standards in digital asset security, compliance and technological innovation. As previously reported by Cointelegraph, OSL was one of the first crypto exchanges to acquire a Hong Kong crypto license in 2023.

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Nov-15-2023 08:59:12 AM