Two of the hires, Joe Zhou and Arion Ho, join OSL from the Hong Kong Stock Exchange.
Funding will go towards IT and non IT-related expenses, including staff costs, marketing expenses and expansion into other markets.
The launch of live trading comes after the exchange was granted Securities and Futures Commission licenses last August.
The collaboration is further evidence of an institutional crypto charge happening in innovation-friendly trading hubs like Hong Kong.
BC's OSL exchange is the first crypto brokerage to receive Hong Kong regulators' blessing.
The offering represents 13% of the company's issued share capital.
Non-U.S. clients can still trade the token but need to pre-fund all short trades, the report said.
The SEC is accusing Ripple of violating federal securities laws via sales of the XRP cryptocurrency to retail consumers.
Crypto hubs like Hong Kong, Singapore and Japan have a clearer regulatory picture going forward and are progressing faster than the U.S. and Europe.
OSL Digital Securities was the first crypto exchange to apply for the SFC's opt-in license last November.
The partnership between OSL and Monsoon is seeking to cement a leadership position in the Asia and U.S. regions.
Fidelity International, a spin-off of the U.S. financial services giant Fidelity Investments, has invested $14 million in Hong Kong-based BC Group, which operates crypto exchange OSL.