BC Technology Group has entered into an agreement to raise HK$697 million (US$90 million) in a top-up share placement, with Morgan Stanley appointed as the sole placing agent and participation from a strong roster of institutional investors.

With completion of the placement, BC Technology will expand the reach and capability of its  institutional digital asset platform OSL, which provides prime brokerage, custody, exchange and software-as-a-service to institutions and professional investors.

“The digital asset market experienced a significant shift in 2020, with regulatory clarity and institutional investment driving market capitalization to new all-time highs,” says Wayne Trench OSL’s chief executive officer. “With the participation of established institutional investors in this placement, we are seeing more evidence that digital assets are attracting significant attention from major traditional finance brands. We believe that the market will continue to grow in the coming months and years, and we are excited to be on the front line of the development of this industry.”

BC Group’s OSL Digital Securities was the first to apply for and be granted a licence for type-1 (dealing in securities) and type-7 (providing automated trading services) regulated activities specific to digital assets under the Hong Kong Securities and Futures Commission’s regulatory regime.