May 21, 2024

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BC Technology Group, owner of the OSL Exchange in Hong Kong, has received a US$90 million investment

BC Technology Group, owner of the OSL Exchange in Hong Kong, has received a US$90 million investment

BC Technology Group, operator of Hong Kong-listed cryptocurrency exchange OSL, has announced a major investment by sector company BGX.

BC Technology has partnered with BGX, which has agreed to subscribe for BC Technology shares for an investment of about HK$710 million (US$90.1 million), the two companies said in a joint announcement on November 14.

The announcement indicates that this strategic investment will include subscription to new shares under a specific mandate, subject to shareholder approval.

According to the companies, the investment is a testament to OSL’s commitment to setting new standards in digital asset security, compliance and technology innovation. As Cointelegraph previously reported, OSL was one of the first cryptocurrency exchanges to obtain a cryptocurrency license in Hong Kong in 2023.

News of the partnership with BGX comes one day after BC Technology He will comment OSL shares trade on the Hong Kong Stock Exchange. according to Industry sourcesa rumor suggested that OSL had been acquired or received investment from Bitget, the exchange that officially announced its exit from the Hong Kong market on November 13.

OSL operator BC Technology has been considered Based on reports The OSL exchange was sold for HK$1 billion, or US$128 million.

Additional reporting from Qiyuan Sun.

Explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information provided here should not be considered as financial advice or investment recommendation. All investments and business transactions involve risks and it is every person’s responsibility to conduct due research before making an investment decision.

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Investments in crypto assets are not regulated. It may not be suitable for retail investors and the entire amount invested may be lost. The services or products provided are not directed at or available to investors in Spain.