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BC Technology Group, the operator of Hong Kong\u2019s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.<\/p>\n
BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14.<\/p>\n
This strategic investment will involve the subscription of new shares under a specific mandate, subject to approval by shareholders, the announcement notes.<\/p>\n
According to the firms, the investment marks a testament to OSL\u2019s commitment to setting new standards in digital asset security, compliance and technological innovation. As previously reported by Cointelegraph, OSL was\u00a0one of the\u00a0first crypto exchanges to acquire a Hong Kong crypto license\u00a0in 2023.<\/p>\n
Related: <\/em><\/strong>BitgetX drops plans to seek crypto license in Hong Kong<\/em><\/strong><\/p>\n The BGX partnership news comes the day after BC Technology halted trading OSL shares on the Stock Exchange of Hong Kong. According to industry sources<\/a>, an unconfirmed report implied that OSL was acquired by or received investment from Bitget, an exchange that officially announced its departure from the Hong Kong market on Nov. 13.<\/p>\n OSL operator BC Technology has\u00a0reportedly considered selling the OSL exchange for $1 billion Hong Kong dollars, or $128 million.<\/p>\n Additional reporting by\u00a0Zhiyuan Sun.<\/em><\/p>\n Magazine: <\/em><\/strong>Bitmain\u2019s revenge, Hong Kong\u2019s crypto rollercoaster: Asia Express<\/em><\/strong><\/p>\n<\/div>\n