BGX Invests $90 Million in BC Technology Group, Operator of Hong Kong’s OSL Exchange
BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has secured a significant investment from BitgetX (BGX), the Hong Kong division of the cryptocurrency services provider Bitget, although it is still pending shareholder approval.
On November 14, BC Technology entered into a partnership with BGX, which has agreed to invest around 710 million Hong Kong dollars (approximately $90.1 million) by subscribing for shares in BC Technology.
This collaboration is set to bolster OSL, operated by BC Technology, and underscores their commitment to establishing new benchmarks in digital asset security, compliance, and technological innovation. OSL, a pioneer in the cryptocurrency space, secured a Hong Kong crypto license in 2023, positioning itself among the first exchanges to achieve this milestone.
The transaction is now pending shareholder approval from BC Technology Group’s shareholders. If successful, it is anticipated to drive BC Technology Group and OSL into a new phase of development and leadership within the digital asset ecosystem.
The injection of funds from BitgetX is viewed as a robust endorsement of OSL’s vision to lead the regulated evolution of the digital asset market. The partnership is hailed for its global digital asset footprint, representing a powerful synergy with OSL’s commitment to offering secure and regulated access to digital assets, complemented by BGX’s global presence in the sector.
This collaboration is poised to elevate OSL’s platform offerings, contributing to the overall growth of the digital asset industry. The strategic alignment of BC Technology and BGX is expected to foster innovation and further enhance security standards.
Hugh Madden, CEO of BC
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