Crypto Exchange BGX Hong Kong Invests $90 Mln For Digital Asset Innovation

Crypto Exchange BGX Hong Kong Invests $90 Mln For Digital Asset Innovation

BGX, one of the leading fully regulated cryptocurrency services providers in Hong Kong, recently announced plans to put in a strategic investment into BC Technology Group, Hong Kong’s only publicly listed company dealing in digital assets.

The upcoming strategic investment facilitates the subscription of new shares under a specialized mandate. This subscription, if allowed by shareholders, will set a landmark in the BC Technology Group’s endeavor to foster a new age of digital asset innovation.

A Closer Look Into The Strategic Investment by BGX

According to reports, BGX concurs to subscribe for BC Technology Group’s shares setting sights on investing a whopping HK$710 million or $90 million. The aforestated investment seems to come in alignment with the OSL, BC Technology Group’s side company, planning to lead the regulation evolution of the digital asset sector within Hong Kong.

The aforementioned partnership also seems to fall in line with the OSL’s vision to offer secure and regulated access to digital assets, concurrently lining up BGX’s image as the organization with one of the biggest digital asset footprints.

However, even though all advancements are set by the tech giant’s communities, the transactions will remain subject to shareholder approval.

Also read: Hedge Funds’ Skepticism Grows as Asset Managers Go Long on BTC

BGX CEO Comments on The Investment

According to Patrick Pan, CEO of BGX, the significant amount of investment in BC Technology Group and its subsidiary OSL illustrates our hopes for the vast potential of the digital asset realm within the country.

The organization strongly believes that the partnership will not only jack up BGX’s global presence but also foster the advancement of the digital asset industry.

BC Technology Group’s CEO on the Strategic Partnership

Hugh Madden, CEO of the BC Technology Group, recently stated that the firm preen itself in its strategic partnership with BGX. The investment by BGX not only jacks up the firm’s financial landscape but also on-boards a leading collaborator in the regulated digital assets sector.

The upcoming partnership reinforces the organization’s commitment to innovation and growth in the broader crypto markets, backing up the firm’s aim to lead while complying with regulations to provide top-notch services to its users.

Also read: Opyn Co-founder Zubin Koticha Resigns Amid CFTC’s Regulatory Charges

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