The digital-asset division of Fidelity Investments has increased its investment in BC Technology Group, the operator of the institutional digital-asset platform OSL. According to Business Times.
The size of the investment by the financial holding amounted to $6.71 million. It held a 6.29% stake in the company.
In February 2020, Fidelity’s initial investment in BC Technology Group amounted to $14 million. At that time it owned 5.6% of the shares.
Earlier, BC Technology Group raised HK$697 million (~$89.9 million) in a secondary share placement for unnamed institutional investors.
OSL is an institutional-focused cryptocurrency exchange, also offering brokerage, custody and SaaS-services. BC Technology Group holds licenses to operate digital assets with the Hong Kong Securities and Futures Commission and has passed an audit by one of the Big Four.
Earlier, Fidelity made a series of strategic investments in the crypto market, including expanding its custody services in Asia in October 2020 through partnership with the Singapore-based cryptocurrency startup Stack Funds.
In December, Fidelity Investments chief Abigail Johnson stated the incredible success of the cryptocurrency custody service launched in October 2019.
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