<div class="sg-post-des">
 BC Technology Group, the operator of Hong Kong’s publicly listed crypto exchange OSL, has raised $90 million in subscriptions for new shares from BGX.
</div>
<div class="cointelegraph">
 BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX.
 BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an <a rel="noopener noreferrer nofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14.
 This strategic <a rel="noopener noreferrer nofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> will involve the subscription of new shares under a specific mandate, subject to approval by shareholders, the announcement notes.
 According to the firms, the investment marks a testament to OSL’s commitment to setting new standards in digital asset security, compliance and technological innovation. As previously reported by Cointelegraph, OSL was&nbsp;one of the&nbsp;first crypto exchanges to acquire a Hong Kong crypto license&nbsp;in 2023.
 Related: Bitget drops plans to seek <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> license in Hong Kong
 The BGX partnership news comes the day after BC Technology halted trading OSL shares on the Stock Exchange of Hong Kong. According to industry sources, an unconfirmed report implied that OSL was acquired by or received investment from Bitget, an exchange that officially announced its departure from the Hong Kong market on Nov. 13.
 OSL operator BC Technology has&nbsp;reportedly considered selling the OSL <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> for $1 billion Hong Kong dollars, or $128 million.
 Additional reporting by&nbsp;Zhiyuan Sun.
 Magazine: Bitmain’s revenge, Hong Kong’s <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> rollercoaster: Asia Express
 <template data-name="subscription_form" data-type="defi_newsletter"></template>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/owner-of-hong-kong-crypto-exchange-osl-secures-90m-investment-tbt70209.html">https://thebittimes.com/owner-of-hong-kong-crypto-exchange-osl-secures-90m-investment-tbt70209.html</a>

Owner of Hong Kong crypto exchange OSL secures $90M investment

TheBitTimes

Other articles published on Nov 14, 2023

Goldman Sachs and BNP Paribas Lead Funding Round for Fnality

FTX employee battles for unpaid $275,000 bonus amid company bankruptcy turmoil

Terra Luna and BNB Fall Behind Popular New Crypto After 20% Price Boost

Analytics Firm Picks Top Performers Among 100 Crypto Ecosystems, Names 4 Altcoins

Tether prints 4 billion USDT, hitting 22.75 billion in 2023

XRP Price Collapses 12% as BlackRock Debunks ETF Hoax

Join our free newsletter for daily crypto updates!