The owner of Hong Kong crypto exchange OSL confirmed a $90M investment
BC Technology Group, the operator of Hong Kong's publicly listed cryptocurrency exchange OSL, has announced a major investment from industrial company BGX.
BC Technology has partnered with BGX to invest HK$710 million ($90.1 million) to list shares in BGX Technology, the companies said in a joint announcement on Nov. 14.
This strategic investment includes the subscription of new shares when the announcement notes are approved by the shareholders.
According to the companies, the investment demonstrates OSL's commitment to setting new standards in digital asset security, compliance and technological innovation. As previously reported by Cointelegraph, OSL is one of the first crypto exchanges to get a Hong Kong crypto license in 2023.
Related: BitgetX plans to seek crypto license in Hong Kong
The news of the BGX partnership comes a day after BC Technology stopped trading OSL shares on the Hong Kong Stock Exchange. According to industry sources, unconfirmed reports indicate that OSL either received investment from Bitgate or the exchange that officially announced its exit from the Hong Kong market on November 13.
OSL operator BC Technology is reportedly considering selling the OSL exchange for $1 billion in Hong Kong dollars, or $128 million.
Additional reporting by Zhiyuan Sun.
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