Fidelity acquires stake in HK crypto firm

Fidelity International has acquired a HK$110.5 million ($14.2 million) stake in the operator of OSL, one of Asia’s biggest digital-asset platforms for professional investors. The acquisition makes Fidelity a substantial shareholder with a 5.6% position. The investment is part of a larger $36 million share placement by BC Group at the end of January. BC Group shares have slipped 7.6% so far this year.

We’re excited to see that world-class equity investors are increasingly participating in the fast-growing digital asset sector, and we look forward to reaching new milestones with our industry-leading institutional investors,” Hugh Madden, CEO of BC Group, said in an email. Stephanie Chui, a Fidelity spokeswoman, declined to comment.

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CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

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