Fidelity Investments, one of the earth's largest asset managers, has poured more capital into a Hong Kong-based cryptocurrency operator — offering still another bullish indicator for the evolution of digital-asset markets worldwide.

An exchange filing obtained past Singapore-based Business organisation Times shows that Fidelity acquired a half dozen.29% pale in BC Engineering Group after investing $half dozen.71 million in the company. Business Times indicated that Fidelity had increased its exposure to the company, though didn't specify the initial investment corporeality.

The investment was announced before long after BC Technology Group disclosed that it had reached an agreement to enhance HK$697 million ($89.ix million) in a "top up share placement."

BC Technology Group is the operator of OSL, a popular cryptocurrency exchange that recently obtained a coveted license from Hong Kong'south Securities and Futures Commission, or SFC. A BC Group press release dated Dec. 15, 2020 claims that OSL is the world's "outset SFC-licensed, listed, digital asset wallet-insured, Big-four audited digital asset trading platform for institutions and professional investors."

Allegiance has made a number of strategic investments in the cryptocurrency marketplace, including expanding its custody services in Asia through a partnership with Stack Funds, a Singapore-based crypto startup. At the cease of 2019, Fidelity's digital-asset unit of measurement established an official entity in the United kingdom to serve institutional investors in Europe.

Headed by Abigail Johnson, Fidelity is positioning itself as an institutional pioneer for cryptocurrency adoption. Recognizing the potential value of digital assets, Fidelity has been harvesting Bitcoin (BTC) since 2014.

Fidelity's early investments in Bitcoin and Ether (ETH) appear to exist paying off today, as both assets vie for a bigger office in institutional finance and global budgetary systems. Just last week, the combined value of all cryptocurrencies broke above $1 trillion for the first time, eventually reaching a high of around $1.2 trillion.