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Constancy Worldwide Invests in Hong Kong Crypto Firm BC Group



Constancy Worldwide has acquired a stake in BC Group, the operator of OSL, one in every of Asia’s largest digital asset platforms for establishments. The corporate bought 17 million shares for a 5.6% possession place.

The acquisition was revealed by a Hong Kong Inventory Alternate (HKEx) disclosure filed on Feb. 17. The precise transaction occurred on Feb. 12. Constancy Worldwide is reported to have bought HK$110.5 million ($14.2 million) price of BC Group shares at a value of HK$6.50 ($0.83) every.

The acquisition is a part of a $36 million share placement announced by BC Group in January. A associated HKEx filing exhibits that 19 million shares have been issued on Feb. 12, making Constancy Worldwide a direct investor into the Hong Kong agency.

Constancy representatives declined to touch upon the information.

BC Group is the operator of two main providers: OSL, an institution-focused digital asset platform, and Branding China, a PR and advertising company.

What’s OSL?

OSL is a digital asset platform offering quite a lot of providers for establishments occupied with crypto property. It provides Software program as a Service (SaaS) instruments to interface with digital property, Over the Counter (OTC) brokerage for big purchasers, custody providers and an institutional digital asset trade. 

Commenting on the funding spherical, BC Group CEO Hugh Madden stated:

“The elevate represents a brand new section of progress for the Group. It permits us to additional put money into key areas corresponding to expertise and compliance which might be important as we compete and win on this dynamic surroundings.”

He emphasised that the digital asset market is “going by a fast altering of the guard.” Specializing in the regulatory perspective, he added:

“Licensing frameworks in each main jurisdiction are rewarding solely the strongest and {most professional} operators, and these companies will proceed to seize market share from unlicensed gamers.”





Source cointelegraph.com

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Ethereum130.92 0.03 % 1.24 % 6.85 %
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