OSL Crypto Exchange’s Operator BC Group Secures $14 Million Investment From Fidelity International

Fidelity International, a spin-off from the U.S. financial services brand Fidelity Investments, has reportedly invested $14 million in BC Group (stock code: 863 HK), the Hong Kong-based operator of crypto exchange OSL. Founded in 2018, OSL claims to be the Hong Kong region’s most comprehensive digital asset platform, providing Software-as-a-Service, brokerage, exchange, and custody services for institutions and professional investor. OSL also claims it was the first to apply for licence under SFC’s new digital asset framework, and boasts a large roster of institutional clients.

According to CoinDesk, the investment from Fidelity is part of BC Group’s recently raised $36 million (HKD280 million)​ share placement. According to BC Group, the placement builds on the success of its digital asset business, OSL, which saw its revenues increase 386% in the six months ending June 30, 2019, compared to the second half of 2018​, and further affirms the Group’s institutional-focused strategy, positioning it to lead the digital asset trading market globally. BC Group CEO Hugh Madden stated at the time:

“Digital asset market infrastructure is going through a rapid changing of the guard. Licensing frameworks in every major jurisdiction are rewarding only the strongest and most professional operators, and these firms will continue to capture market share from unlicensed players. The raise represents a new phase of growth for the Group. It allows us to further invest in key areas such as technology and compliance which will be essential as we compete and win in this dynamic environment.”

Speaking about the Fidelity investment, Madden shared:

“We’re excited to see that world-class equity investors are increasingly participating in the fast-growing digital asset sector, and we look forward to reaching new milestones with our industry-leading institutional investors.”

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