Fidelity Investments, one of the world’s largest asset managers, has invested more capital in a Hong Kong-based cryptocurrency operator, providing another positive indicator of the evolution of digital asset markets worldwide.

An exchange application obtained by the Singapore-based Business Times shows that Fidelity acquired a 6.29% stake in BC Technology Group after investing $ 6.71 million in the company. Business Times indicated that Fidelity increased its exposure to the company, but did not mention the initial investment amount.

The investment was announced shortly after BC Technology Group announced it had reached an agreement to raise HK $ 697 million ($ 89.9 million) in an “additional stock placement”.

BC Technology Group operates OSL, a popular cryptocurrency exchange that recently obtained a coveted license from Hong Kong’s Securities and Futures Commission or SFC. A BC Group press release dated December 15, 2020 claims that OSL is the “world’s first SFC-licensed, publicly traded, Big-4 controlled digital asset trading platform for institutions and professional investors.”

Fidelity has made a number of strategic investments in the cryptocurrency market, including expanding its custody services in Asia through a partnership with Stack Funds, a Singapore-based crypto startup. At the end of 2019, Fidelity’s digital assets unit an official entity incorporated in the United Kingdom to serve institutional investors in Europe.

Led by Abigail Johnson, Fidelity is positioning itself as an institutional pioneer for cryptocurrency adoption. Fidelity recognizes the potential value of digital assets to harvest Bitcoin (BTC) since 2014.

Fidelity’s early investments in Bitcoin and Ether (ETH) seem to be paying off today as both assets compete for greater roles in institutional finance and global monetary systems. Last week the combined value of all cryptocurrencies broke above $ 1 trillion for the first time, eventually peaking at about $ 1.2 trillion.