Fidelity International Invested $14 Million in the Hong Kong Crypto Exchange

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OSL, the trading platform operator, received funding from a former subsidiary of the American holding giant, which manages $2.5 trillion in assets.

Fidelity International, a former subsidiary of Fidelity Investment, acquired 17 million shares of the operator of the Hong Kong OSL exchange, BC Group, at a price of $0.83 per share. The deal was part of a securities offering that the Hong Kong stock exchange announced in January. Another major company, Eternity Investment Limited, a holding company that specializes in jewelry, also participated in the investment round.

OSL is one of the largest crypto exchanges in Asia. It is aimed at institutional and private investors, with trading, brokerage, and custodial services.

Fidelity International was founded in 1969 as a subsidiary of the Boston-based financial giant. It was separated from Fidelity and became independent in the 1980s. In June 2019, under its management, there were assets worth $418,8 million.

Earlier, banking giant Wells Fargo invested in the blockchain startup Elliptic. The project received $5 million to develop the Discovery product, which is designed to establish cooperation between cryptocurrency exchanges and banks.

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