{"id":24514,"date":"2023-11-14T15:28:43","date_gmt":"2023-11-14T15:28:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-firm-bgx-invests-90m-in-hong-kong-regulated-exchange-osl\/"},"modified":"2023-11-14T15:28:43","modified_gmt":"2023-11-14T15:28:43","slug":"crypto-firm-bgx-invests-90m-in-hong-kong-regulated-exchange-osl","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-firm-bgx-invests-90m-in-hong-kong-regulated-exchange-osl\/","title":{"rendered":"Crypto firm BGX invests $90M in Hong Kong-regulated exchange OSL"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">BGX, the company that runs BitgetX in Hong Kong, has agreed a $90 million investment in BC Technology.<\/li>\n<li dir=\"ltr\">BC Technology is the parent company of OSL, a publicly listed crypto exchange trading on the Hong Kong Stock Exchange.<\/li>\n<li dir=\"ltr\">BitgetX announced it would not pursue regulatory registration and licensing in Hong Kong.<\/li>\n<\/ul>\n<p dir=\"ltr\">BC Technology Group, the company behind the crypto exchange OSL, has agreed to a strategic investment from BGX, the crypto operator of the BitgetX platform.<\/p>\n<p dir=\"ltr\">The news development was shared via a <a href=\"https:\/\/osl.com\/press-release\/bc-technology-group-strategic-investment-bgx-digital-asset-innovation\/\" rel=\"noopener noreferrer\" target=\"_blank\">press release<\/a> BC Technology published on Tuesday, November 14.\u00a0<\/p>\n<h2 dir=\"ltr\">BGX invests $90 in OSL<\/h2>\n<p dir=\"ltr\">Details indicate that the BGX investment involves a subscription for shares in the OSL parent company to the tune of HK$710 million (approximately $90 million.)<\/p>\n<p dir=\"ltr\">\u201c<em>Our investment in BC Technology Group and OSL is a strategic move that reflects our belief in the immense potential of the digital asset market,\u201d said Patrick Pan, CEO of BGX. \u201cWe are confident that this partnership will not only strengthen BGX\u2019s global presence but also enhance the growth trajectory of the digital asset industry<\/em>,\u201d he added.<\/p>\n<p dir=\"ltr\">While the strategic subscription for shares has been agreed, these will be undertaken under a specific mandate. That will be after an approval from the BC Technology shareholders.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\ude80 Big news at <a href=\"https:\/\/twitter.com\/hashtag\/OSL?src=hash&amp;ref_src=twsrc%5Etfw\">#OSL<\/a>! Our parent, <a href=\"https:\/\/twitter.com\/bctechgroup?ref_src=twsrc%5Etfw\">@bctechgroup<\/a>, has just announced a strategic investment of HK$710 million from BGX.<\/p>\n<p>\ud83d\udcc8 Here\u2019s the scoop:<br \/>\u2013 Fueling M&amp;A in digital asset and blockchain sectors.<br \/>\u2013 Enhancing our digital asset platform technology.<br \/>\u2013 Supporting capital needs of our\u2026 <a href=\"https:\/\/t.co\/dk9oSkXvcS\">https:\/\/t.co\/dk9oSkXvcS<\/a><\/p>\n<p>\u2014 OSL (@osldotcom) <a href=\"https:\/\/twitter.com\/osldotcom\/status\/1724386271513231714?ref_src=twsrc%5Etfw\">November 14, 2023<\/a><\/p>\n<\/blockquote>\n<h2 dir=\"ltr\">BitgetX to halt operations<\/h2>\n<p dir=\"ltr\">OSL, a wholly-owned subsidiary of BC Technology, was the first digital assets exchange to receive regulatory approval from Hong Kong\u2019s Securities and Futures Commission (SFC).<\/p>\n<p dir=\"ltr\">Today\u2019s announcement comes a day after BitgetX, the Hong Kong crypto platform of BGX, <a href=\"https:\/\/coinjournal.net\/news\/bitget-halts-plans-for-crypto-licence-in-hong-kong\/\" rel=\"noopener noreferrer\" target=\"_blank\">notified its customers<\/a> of plans to halt operations by December 13. The exchange will not pursue a licence from SFC.<\/p>\n<p dir=\"ltr\">BC Technology also asked the Stock Exchange of Hong Kong to halt trading of OSL shares in view of a business deal. The<a href=\"https:\/\/coinjournal.net\/news\/tag\/bitget\/\">\u00a0Bitget<\/a> announcement also put its decision to the same consideration.<\/p>\n<p dir=\"ltr\">The price of Bitget Token (BGB) rose sharply after the news to trade at an all-time high of $0.58.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitgets-hong-kong-operator-invests-90m-in-osl\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) BGX, the company that runs BitgetX in Hong Kong, has agreed a $90 million investment in BC Technology. BC Technology is the parent company of OSL, a publicly listed crypto exchange trading on the Hong Kong Stock Exchange. BitgetX announced it would not [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24514"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24514"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24515"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}