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BC Expertise Group, the operator of Hong Kong’s publicly listed cryptocurrency trade OSL, has introduced a major funding from business agency BGX.
BC Expertise entered right into a partnership with BGX, which agreed to subscribe for shares in BC Expertise for an funding of about 710 million Hong Kong {dollars} ($90.1 million), the companies stated in a joint announcement on Nov. 14.
This strategic funding will contain the subscription of latest shares underneath a selected mandate, topic to approval by shareholders, the announcement notes.
In line with the companies, the funding marks a testomony to OSL’s dedication to setting new requirements in digital asset safety, compliance and technological innovation. As beforehand reported by Cointelegraph, OSL was one of many first crypto exchanges to amass a Hong Kong crypto license in 2023.
Associated: Bitget drops plans to hunt crypto license in Hong Kong
The BGX partnership information comes the day after BC Expertise halted buying and selling OSL shares on the Inventory Alternate of Hong Kong. In line with industry sources, an unconfirmed report implied that OSL was acquired by or obtained funding from Bitget, an trade that formally introduced its departure from the Hong Kong market on Nov. 13.
OSL operator BC Expertise has reportedly thought of promoting the OSL trade for $1 billion Hong Kong {dollars}, or $128 million.
Extra reporting by Zhiyuan Solar.
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