Hong Kong’s crypto exchange OSL receives $90m in funding

BGX Group will invest 710 million HK in BC Technology Group, the parent company of Hong Kong’s first licensed crypto exchange, OSL. 

BGX Group, a division of the Bitget exchange, has recently declared its intent to invest in BC Technology Group. This company is notably recognized as the parent corporation of OSL, Hong Kong’s first licensed digital currency exchange.

📢 is proud to announce a strategic investment of HK$710m from BGX.📈What’s Next?– Energising our M&A strategy in the sector– Tech advancements in our platform& more🔍 Awaiting shareholder approval.Details➡️

— BC Technology Group (Stock code: 863 HK) (@bctechgroup)

BGX’s investment in BC Technology is particularly interesting because Shawn Liu, the founder of Bitget, currently holds the largest share in BC Technology. Earlier this week, Bitget withdrew its application to become a licensed Virtual Asset Service Provider (VASP) in Hong Kong. 

BGX Group has committed to investing in BC Technology. This move is a strategic endorsement of OSL’s vision, which aims to be at the forefront of regulated digital asset markets. BC Technology Group is the sole public company in Hong Kong focused exclusively on digital assets. This investment by BGX can potentially drive significant growth for its subsidiary, OSL.

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2023-11-15 00:41