Owner of Hong Kong Crypto Exchange OSL Secures $90M Investment

BC Technology Group partners with BGX in a significant investment

Hong Kong-based BC Technology Group, the operator of the cryptocurrency exchange OSL, has announced a major investment from industry firm BGX. The partnership will involve BGX subscribing for shares in BC Technology for an investment of approximately 710 million Hong Kong dollars ($90.1 million). The investment is subject to approval by shareholders and represents a testament to OSL's commitment to digital asset security, compliance, and technological innovation.

OSL's commitment to setting new standards

OSL, which was one of the first crypto exchanges to acquire a Hong Kong crypto license in 2023, has been at the forefront of the industry. This strategic investment from BGX further solidifies OSL's position as a trailblazer in the digital asset space. The partnership will enable OSL to enhance its offerings and continue to set new standards in the industry.

BC Technology halts trading OSL shares

Shortly after the announcement of the partnership, BC Technology temporarily halted trading of OSL shares on the Stock Exchange of Hong Kong. While details about the suspension are limited, industry sources suggest that OSL may have been acquired by or received investment from Bitget, an exchange that recently announced its departure from the Hong Kong market.

Potential sale of OSL exchange

Reports indicate that BC Technology has been considering the sale of the OSL exchange for $1 billion Hong Kong dollars ($128 million). The investment from BGX may influence the company's decision on whether to proceed with the sale or continue to develop OSL further under its ownership.

Additional reporting by Zhiyuan Sun.