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BC Know-how Group, the operator of Hong Kong’s publicly listed cryptocurrency alternate OSL, has introduced a major funding from business agency BGX.
BC Know-how entered right into a partnership with BGX, which agreed to subscribe for shares in BC Know-how for an funding of about 710 million Hong Kong {dollars} ($90.1 million), the corporations mentioned 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 response to the corporations, 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 Know-how halted buying and selling OSL shares on the Inventory Trade of Hong Kong. In response to industry sources, an unconfirmed report implied that OSL was acquired by or acquired funding from Bitget, an alternate that formally introduced its departure from the Hong Kong market on Nov. 13.
OSL operator BC Know-how has reportedly thought of promoting the OSL alternate for $1 billion Hong Kong {dollars}, or $128 million.
Further reporting by Zhiyuan Solar.
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