Fidelity Acquires Stake in Hong Kong Crypto Company BC Group

Old school asset manager Fidelity continues to make waves in the new school crypto space.

According to the Coin Telegraph, the Boston-headquartered institution has acquired a stake in Hong Kong-based BC Group.

The BC Group operates OSL, one of Asia’s largest digital asset management platforms, and Branding China, a marketing and PR firm.

Fido reportedly purchased over $14 million of BC Group shares at $0.83 per share. This is part of a larger, $36 million share placement announced in January, the Coin Telegraph said.

For the uninitiated, OSL provides services to institutions looking to gain exposure to digital assets. Among other services, it provides over-the-counter (OTC) brokerage, custody, and Software as a Service tools.

Photo: Mark Lehmkuhler