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Fidelity invests in the crypto exchange OSL

en.cryptonomist.ch 23 February 2020 04:30, UTC
Reading time: ~2 m

Fidelity International, a fund that is part of the well-known Fidelity Investments, has invested $14 million in the crypto exchange OSL. With this investment, Fidelity has practically bought 17 million shares of the company at a price of HK$6.50 (US$0.83) each, as can be read in a document published today

Basically, Fidelity has invested to obtain 5.6% of the Hong Kong-based exchange.

Fidelity International had already invested $36 million in BC Group.

CEO of BC Group Hugh Madden explained:

“We are excited to see how world-class equity investors are increasing their holdings in the high-growth digital industry, and we look forward to reaching new milestones with our industry-leading institutional investors”.

Fidelity’s interest in crypto investments

At the beginning of February this year, Fidelity had also invested $13 million in Clear, confirming its interest in the crypto and blockchain industry considering that this blockchain-based platform allows telecommunications companies to collaborate and settle payments automatically.

At the beginning of the month, Fidelity had shared on Twitter a very positive article regarding cryptocurrencies and in particular bitcoin, entitled “Bitcoin Obsoletes All Other Money”, which left little room for interpretation concerning the view that Fidelity has about cryptocurrencies.

Back in December last year, the American financial services giant had already opened Fidelity Digital Assets in Europe to provide crypto services to European customers, following the activation of the service in America.

Again, in August 2019, Fidelity Charitable, a branch of the company dedicated to the collection of charitable donations, published a report explaining that the various payment methods included cryptocurrencies,  stating that – from 2015 to the summer of 2019 – $106 million had been collected using crypto.

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