Bitget exchange company in Hong Kong, BGX has invested HK$710 million in OSL, the subsidiary of BC Technology Group in Hong Kong. In a press statement, BC Technology confirmed the strategic investment, describing BGX as a leader in cryptocurrency services. According to the firm, the funding marks a significant milestone in its efforts to grow the digital asset space.
Through the deal, BGX is seeking to acquire Hk$710 million worth of shares in BC Technology. This financial commitment, according to BC Technology, signifies an approval of OSL’s vision to lead the regulatory transformation of the digital asset market.
Similarly, the partnership also confirms OSL’s unwavering commitment to setting new standards in digital asset security, compliance, and technological innovation. Worth noting that BGX is well-known for its global digital asset footprint, thus becoming an ideal partner for OSL.
Stakeholders to decide over BGX offer
It is important to note that BGX’s offer to buy the shares is still subject to approval by BC Tecchonlogy shareholders. Meanwhile, The CEO of BC Technology Group, Hugh Madden is optimistic that the partnership will strengthen the group’s financial strength and also fulfill its mission to innovate and expand in the digital asset market.
Madden further described the investment as a significant endorsement of BC Technology strategy to lead in compliance with regulatory standards. According to the exec, it will also enable the technological firm to continuously offer the best-in-class digital asset services to its institutional, professional, and retail investors.
In addition, the CEO of BGX also gave his insight on the investment. According to him, the partnership reflects BGX’s belief in the potential of the digital asset market. The exec further that he’s convinced that the partnership will not only strengthen the firm global presence but also facilitate the growth of the digital asset industry.
Don’t forget that OSL is the first crypto exchange to obtain crypto license in Hong kong this year. Before its collaboration with BGX, Yesterday, BC Technology stopped trading of OSL shares on the Stock Exchange of Hong Kong.
Just recently, BGX’s parent company, Bitget collaborated with Coinpanda. As revealed, the partnership is geared towards allowing users to calculate their crypto tax seamlessly. In the same vein, the feature helps to eliminate every challenge that crypto traders might face while calculating their taxes.