Fidelity invested $ 6.7 million in the operator of the regulated cryptocurrency exchange OSL

Fidelity Investments’ Digital Asset Division has increased its investment in BC Technology Group, operator of OSL’s institutional digital asset platform. Writes about this Business Times.

The investment of the financial holding amounted to $ 6.71 million. It has a 6.29% stake in the company.

In February 2020, Fidelity’s initial investment in BC Technology Group was $ 14 million. At that time, it held 5.6% of the shares.

BC Technology Group previously raised HK $ 697 million (~ $ 89.9 million) in an additional share offering to unnamed institutional investors.

OSL is a major player-focused cryptocurrency exchange that also provides brokerage, custody and SaaS services. BC Technology Group is licensed to operate digital assets by the Hong Kong Securities and Futures Commission and audited by Big-4.

Fidelity has previously made a number of strategic investments in the cryptocurrency market, including expanding its custody services in Asia in October 2020 through a partnership with Singapore-based cryptocurrency startup Stack Funds.

Recall that at the end of December, the head of Fidelity Investments Abigail Johnson announced the incredible success of the cryptocurrency storage service launched in October 2019.

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Karice Dabule

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