Fidelity International Invests in Hong Kong Crypto Company BC Group

Fidelity International has acquired a stake in BC Group, the operator of OSL, one of Asia's largest digital asset platforms for institutions.

The company purchased 17 million shares for a 5.6% ownership position.

The purchase was revealed by a Hong Kong Stock Exchange disclosure filed on Feb. 17.

Fidelity International is reported to have purchased HK$110.

5 million worth of BC Group shares at a price of HK$6.50 each.

The purchase is part of a $36 million share placement announced by BC Group in January.

A related HKEx filing shows that 19 million shares were issued on Feb. 12, making Fidelity International a direct investor into the Hong Kong firm.

BC Group is the operator of two major services: OSL, an institution-focused digital asset platform, and Branding China, a PR and marketing agency.

OSL is a digital asset platform providing a variety of services for institutions interested in crypto assets.

It offers Software as a Service tools to interface with digital assets, Over the Counter brokerage for large clients, custody services and an institutional digital asset exchange.