Hong Kong Crypto Exchange OSL Receives $90M Investment From BGX Group

BGX Group, a subsidiary of Bitget exchange, has announced a substantial investment in BC Technology Group, the parent company of OSL, Hong Kong’s pioneering licensed crypto exchange. This investment decision marks a significant moment for the digital currency landscape in Hong Kong.

What You Need to Know

• BGX Group plans to invest 710 million HK in BC Technology Group.
• BC Technology Group, the parent of OSL, is a leader in Hong Kong’s crypto exchange market.
• Bitget founder Shawn Liu is the largest shareholder in BC Technology Group.

This investment comes at a notable time, especially considering Shawn Liu, the founder of Bitget, holds the largest share in BC Technology Group. Interestingly, earlier this week, Bitget withdrew its application for a license as a Virtual Asset Service Provider (VASP) in Hong Kong.

BGX Group’s investment in BC Technology Group is more than just a financial commitment; it’s a strategic move that endorses OSL’s mission to lead in the regulated digital asset markets. As the only public company in Hong Kong exclusively focusing on digital assets, BC Technology Group and its subsidiary OSL stand to benefit significantly from this investment.

The move by BGX Group to inject funds into BC Technology Group demonstrates confidence in the future of digital asset trading and management in Hong Kong, potentially catalyzing growth for OSL.