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BC Technology Group gets USD 70 mln investment

Tuesday 15 June 2021 10:40 CET | News

BC Technology Group, a digital asset firm as well as the parent of OSL, has acquired a USD 70 million investment from Singapore’s GIC, the city-state’s sovereign wealth fund.

The UK-based company says it’s planning to further develop and improve the platform tech of its digital asset business and has set aside around HKD 100 million as reserves for its ongoing expansion efforts into other markets such as the United States, United Kingdom, as well as Singapore.

The funding has been received after BC Group’s recent partnership with Standard Chartered to introduce a crypto asset brokerage and exchange platform for institutional and corporate customers based in the UK and across Europe.

Headquartered in the UK, and initially serving the European market, the firm will connect institutional traders to counterparties across markets, delivering access to liquidity in Bitcoin, Ethereum and other digital assets. The joint venture aims to launch in the fourth quarter of 2021, subject to regulatory approvals.

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Keywords: partnership, crypto asset, digital assets, cryptocurrency exchange, funding
Categories: Banking & Fintech | Cryptocurrencies
Countries: United Kingdom
This article is part of category

Banking & Fintech