Fidelity Acquires 3.3M Shares of OSL's Crypto Exchange Operator
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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.

Fidelity Sees Historical Record Presence of Institutional Investors on Bitcoin Market

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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