Hong Kong Stock Exchange, OSL, BC Group

Hong Kong Stock Exchange-listed BC Technology Group, the parent company of regulated crypto platform OSL, has raised HKD697 million (approximately $90 million) in the form of a top-up share placement.

Morgan Stanley was appointed as the sole placing agent of some 45,000,000 placing shares owned by the firm, representing approximately 13% of BC Group’s issued share capital.

2020 was a busy year for OSL, an institution-focused digital asset platform based in Hong Kong, providing prime brokerage, custody, exchange and software-as-a-service (SaaS). The company attained regulatory approval to offer crypto services from Hong Kong regulator, the Securities and Futures Commission (SFC), and also said it was providing technology to Singapore’s DBS bank, which announced its entrance into the digital asset space last month.

BC Group CEO Hugh Madden said the raised funds will help meet rocketing institutional trading demand and bolster its software-as-a-service business.

“We’ve been quite successful with our institutional software as a service business,†said Madden in an interview. “Additionally, we need to bolster our financial reserves under our licensing arrangements, which is similar to capital adequacy in the banking world. This allows us to continue to scale, as this new institutional business flow really starts to flood in.â€

BC Group has also earned its regulatory standing thanks to having been a driving force behind the Travel Rule Protocol (TRP), a Financial Action Task Force (FATF) “Travel Rule†solution for crypto led by Dutch lender ING and Standard Chartered Bank, and including Fidelity Digital assets and BitGo.

RELATED NEWS

XRP Crash Burns Other Crypto Asset Values, BTC Price Remains Unscathed

Digital currency markets have seen some volatile action this week and during the last 24 hours following the XRP charges, a number of coins shed a great deal of value. At the time of publication, the entire crypto-economy is valued at $629 billion and because XRP lost so much value, bitcoin’s dominance index has risen […]

Xem chi tiết: XRP Crash Burns Other Crypto Asset Values, BTC Price Remains Unscathed

Hong Kong Trading Platform OSL Suspends XRP Services as SEC Sues Ripple

A lawsuit against Ripple Labs brought Tuesday by the U.S. Securities and Exchange Commission (SEC) is already having knock-on effects. OSL, the first regulated digital asset trading and brokerage platform in Hong Kong, announced that it is suspending trading in the XRP cryptocurrency at the heart of the SEC action. The platform tweeted Wednesday: The […]

Xem chi tiết: Hong Kong Trading Platform OSL Suspends XRP Services as SEC Sues Ripple

Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong Gives Out First Crypto License Hong Kong’s Securities and Futures Commission (SFC) has licensed the first […]

Xem chi tiết: Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong Grants First License to Cryptocurrency Trading Platform

Hong Kong now has its first regulated cryptocurrency trading platform. The Securities and Futures Commission has just given out the first-ever crypto license to OSL Digital Securities which will soon commence trading for several cryptocurrencies, including bitcoin. Hong Kong Gives Out First Crypto License Hong Kong’s Securities and Futures Commission (SFC) has licensed the first […]

Xem chi tiết: Hong Kong Grants First License to Cryptocurrency Trading Platform

US House Representative Ro Khanna Lauds BTC Which ‘Cannot Be Devalued’- Calls for Less Carbon Intensive Mining

After Elizabeth Warren, the U.S. Senator for Massachusetts called bitcoin a speculative asset, Ro Khanna, the U.S. House Representative for California has spoken in favor of the crypto asset. In his Twitter statement, Khanna says “bitcoin just like digital gold cannot be devalued.†Khanna also lauds the crypto asset’s decentralization, an attribute which he says […]

Xem chi tiết: US House Representative Ro Khanna Lauds BTC Which ‘Cannot Be Devalued’- Calls for Less Carbon Intensive Mining

Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

On March 1, the startup General Protocols announced the company has raised $3 million in a Series A financing round led by a number of strategic investors. General Protocols is the firm behind the Anyhedge protocol, the first decentralized finance (defi) project built on the Bitcoin Cash network. ‘The Untapped Power Behind the Concept of […]

Xem chi tiết: Defi on Bitcoin Cash Gets a Boost- Smart Money Startup General Protocols Raises $3 Million from Investors

Discount on Grayscale’s GBTC Plunges to New Record Low as Competition From Emerging Rivals Intensifies

The premium on Grayscale Investment’s GBTC, which turned negative for the first time on February 23, is continuing its downward slide. As the latest Glassnode data shows, the GBTC was trading at a record low discount of -11.92% on March 4, 2021. According to the same data, this new low is a significant reversal from […]

Xem chi tiết: Discount on Grayscale’s GBTC Plunges to New Record Low as Competition From Emerging Rivals Intensifies

Argentinean Startup Accelerator Launches Crypto Mining Farm in Mar Del Plata

The Technological District of Mar del Plata, Argentina, will host a massive crypto mining operation backed by a domestic startup accelerator. Lothal Mining is the company that will run the operations of the mining firm in the Argentinean city. Firm Will Mine Ethereum During the First Stage Per local newspaper La Capital, Grupo Neutrón invested […]

Xem chi tiết: Argentinean Startup Accelerator Launches Crypto Mining Farm in Mar Del Plata

Ripple’s Asia Pacific Business Flourishing Despite SEC Lawsuit, Says CEO

Personal Finance Expert Suze Orman Says ‘I Love Bitcoin’ — Advises How to Buy BTC, Praises Paypal

Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year

A Crypto-Infused Professional Sports League: Billionaires Form a Blockchain Advisory Committee for the NBA

Selling Social Media Posts for $1.5 Million? Blockchain-Certified Tweet Sales Spark NFT Controversy

JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies

The Many Facts Pointing to Cypherpunk Len Sassaman Being Satoshi Nakamoto

Indictment Order Issued Against Leaders of the Geek Group for Their Role Using BTC in an Illegal Money Transmission Business

Other Articles