Fidelity acquires stake in HK crypto firm

Fidelity International has acquired a HK$110.5 million ($14.2 million) stake in the operator of OSL, one of Asia’s biggest digital-asset platforms for professional investors. The acquisition makes Fidelity a substantial shareholder with a 5.6% position. The investment is part of a larger $36 million share placement by BC Group at the end of January. BC Group shares have slipped 7.6% so far this year.

We’re excited to see that world-class equity investors are increasingly participating in the fast-growing digital asset sector, and we look forward to reaching new milestones with our industry-leading institutional investors,” Hugh Madden, CEO of BC Group, said in an email. Stephanie Chui, a Fidelity spokeswoman, declined to comment.

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