BC Technology Group, operator of Hong Kong-listed cryptocurrency exchange OSL, has announced a major investment from BGX, a company in the industry.
BC Technology has entered into a partnership with BGX, which agreed to invest approximately HK$710 million (US$90.1 million) in BC Technology’s shares, the companies said in a joint announcement on November 14.
The announcement stated that this strategic investment will involve the subscription of new shares under a specific mandate, subject to shareholder approval.
The companies said the investment demonstrates OSL’s commitment to setting new standards in digital asset security, compliance and technology innovation. As Cointelegraph previously reported, OSL is one of the first cryptocurrency exchanges to receive a Hong Kong cryptocurrency license in 2023.
related: Bitget abandons plan to seek cryptocurrency license in Hong Kong
News of the BGX partnership comes a day after BC Technology stopped Trade OSL shares on the Hong Kong Stock Exchange.according to Industry sourceAn unconfirmed report suggested that OSL was acquired by Bitget or received investment. The exchange officially announced its withdrawal from the Hong Kong market on November 13.
OSL operator BC Technology has It is said Consider selling OSL Exchange for HK$1 billion (approximately US$128 million).
Additional reporting by Sun Zhiyuan.
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