Fidelity International Invests $14M in Hong Kong Crypto Trade Operator


Fidelity International, a spin-off from the U.S. monetary products and services giant Fidelity Investments, has invested $14 million in the Hong Kong-based mostly operator of crypto exchange OSL.

According to general public disclosures on Feb. 21, Fidelity International bought 17 million shares of OSL operator BC Team at a price tag of HK$6.50 (US$.83) per share, which provides it a 5.6 % stake in the company.

The investment decision is part of a $36 million share placement that Hong Kong Inventory Trade-detailed BC Team introduced past month. Though the transaction was finished Feb. 12, the names of the buyers were not disclosed till these days.

Yet another major investor that participated in the spherical is Eternity Investment decision Constrained, a Hong Kong-based mostly investment decision keeping company primarily targeted on jewellery products and solutions.

Just one of the largest crypto exchanges in Asia, OSL targets institutional and person buyers with investing, brokerage and custody products and services.

“We’re thrilled to see that environment-course equity buyers are significantly collaborating in the speedy-escalating electronic asset sector, and we look forward to achieving new milestones with our sector-top institutional buyers,” BC Group’s CEO Hugh Madden said in a assertion.

Fidelity International was established in 1969, initially as an investment decision subsidiary to the Boston-based mostly monetary giant concentrating on overseas markets. It was spun off from Fidelity as an unbiased entity in the 1980s.

According to the company’s own disclosures, Fidelity International was handling total consumer assets of $418.8 billion throughout Asia, Europe, the Middle East and South America as of June 2019.

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