Home Business Finance Crypto exchange OSL gets $14M investment from Fidelity International

Crypto exchange OSL gets $14M investment from Fidelity International

Hong Kong-based operator of crypto exchange, OSL has received a $14million investment from Fidelity International.

Fidelity International is an offshoot from the United States’ top financial services company, Fidelity Investments.

According to a revelation on February 21, the group acquired 17 million shares of OSL owner BC Group at HK$6.50, which is equivalent to US$0.83 per share. This makes it a 5.6 percent stake in the firm.

The investment is a fraction of a $36M share placement that the Hong Kong Stock Exchange-listed BC Group declared in January.

According to BC Group’s CEO, Hugh Madden in an announcement, they are thrilled that big capital investors are actively contributing to the digital asset sector which is developing at a fast rate.

He added that they are anticipating attaining new landmarks with industry-leading institutional investors.

Although the agreement was finalized on February 12, the identities of the investors were not divulged until today.

An additional important investor that partook in the round is Eternity Investment Limited, a Hong Kong-based investment holding firm mainly concentrated on jewelry products.

OSL, which focuses on individual and institutional investors with trading and brokerage is one of the biggest crypto industries in Asia.

About Fidelity International

Fidelity International was created in 1969, initially as an international investment subsidiary of Fidelity Investments in Boston.

As of March 2015, it had 7,000 employees.

It spun out as a self-sufficient business in 1980 and is headquartered at Pembroke, Bermuda.

Ever since it has proceeded to perform as a private company possessed by its employees.

As a company, its services include providing investment management services, which include mutual funds, pension management and fund platforms to private and institutional investors.

According to the company’s revelations, Fidelity International was overseeing total client assets of $418.8 billion across Asia, Europe, the Middle East, and South America as of June 2019.

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