International investment subsidiary of Fidelity Management, Fidelity International, has acquired 3,370,000 shares of BC Technology Group Ltd., an operator of Hong Kong's first licensed crypto exchange OSL, CoinDesk first learned.
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According to a filing, Fidelity International purchased 3.3 million shares ($15.5 HKD per share) of BC Technology Group Ltd. for $52.3 million HKD ($6.74 million). Prior to the purchase, Fidelity held 5.29% of BC Group, increasing the ownership up to 6.29%.
In August 2020, Hong Kong’s Securities and Futures Commission (SFC) issued a license to crypto firm OSL Digital Securities to offer digital assets services.
Hence, OSL became the first firm to receive an approval from the SFC to operate a brokerage and automated trading service for digital assets, including security tokens in Hong Kong under new rules. BC Group CEO Hugh Madden said licensing was a game changer as it provides"certainty and confidence to investors."
In October last year, Fidelity Digital Asset Services (FDAS) entered into a partnership with Stack Funds, a Singaporean company focused on crypto services, to attract new wealthy clients. Stack offers FDAS a secure cryptocurrency custody services to meet high demand from high-net-worth investors and family offices in the digital assets market.
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