One of the world’s most prominent asset managers has channeled more capital into a Hong Kong crypto firm.
Fidelity Investments acquired a 6.29% stake in BC Technology Group after investing $6.71 million in the company, according to an exchange filing obtained by Singapore-based Business Times. The news outlet said Fidelity had increased its exposure to the firm, but didn’t specify the initial investment amount, Cointelegraph reported.
The move was made public shortly after BC Technology Group revealed that it had struck a deal to raise HK$697 million ($89.9 million) in a “top up share placement.”
BC Technology Group runs OSL, a popular crypto exchange that recently obtained a license from Hong Kong’s Securities and Futures Commission (SFC). A BC Group press release dated Dec. 15, 2020 says OSL is the world’s “first SFC-licensed, listed, digital asset wallet-insured, Big-4 audited digital asset trading platform for institutions and professional investors.”