Fidelity Leads $36M Share Placement in HK-Listed Crypto Firm

Fidelity International has invested $14 million in Hong Kong-listed digital asset firm BC Group. The funding form the arm of US asset manager Fidelity Investments, which claims to have 23 million retail accounts, is part of a $36 million round that the public technology startup raised earlier this month in a share placement.

The recent round of funding will allow BC Group’s digital asset business, OSL, to build its team and expand its product portfolio. OSL provides software-as-a-service, brokerage, exchange, and custody services for institutions and professional investors.

OSL was also one of the first to apply for a license of a crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term under the Hong Kong Securities and Futures Commission’s (SFC) digital asset licensing framework. This coveted license will allow the firm to offer wider crypto-related services and cater to regulated asset managers seeking to invest in security tokens and other digital assets.

This collaboration combines Fidelity’s expertise from asset administration with digital asset security, in a bid to provide a safekeeping service for investment houses looking to gain exposure to the rapidly emerging asset class.

Fidelity crypto arm expands into Europe

"The placement is further evidence that major institutional investors are entering the digital asset space. It reinforces what we believe at BC Group and OSL; mainstream adoption is inevitable and leading financial firms are making investments in companies that are committed to institutional quality infrastructure, compliance and regulatory standards,” Steve Zhang, CFO of BC Group, told The Block.

The placement also comes as Fidelity Digital Assets, the cryptocurrency arm of Boston-based financial giant, has expanded its cryptocurrency trading and custody services to companies based in Europe. However, Fidelity’s cryptocurrency unit only serves institutional investors such as hedge funds, family offices, and market intermediaries.

The new company already features institutional-grade, crypto linked services, including custody offerings to safeguard holdings and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term services 24 hours a day, seven days a week.